Banks SWIFT - code Kosovo

Authorities warn that the bank in Kosovo from December 9 in Kosovo is expected to be implemented SWIFT code Kosovo Central Bank of the Republic of Kosovo , as well as commercial banks operating in the country .

Society for Worldwide Interbank FinancialTelecommunication , known by the acronym SWIFT has assigned a special code to use state regarding the identification of the financial institutions of the Republic of Kosovo .
Code Central Bank of Kosovo ( CBK ) will be CBRXKPR , while commercial banks will have individual codes , Florin writes Maxharraj , senior adviser of the Executive Board for markets , instruments and financial infrastructure in the Central Bank of Kosovo .
Maxharraj shows that the use of this code , unless enables convenience for clients, enables combating money laundering and financing of terrorism .
"Apart from the direct benefits to customers of banks , or urdhëruesve payment or benefit the citizens of the Republic of Kosovo institutions , the Central Bank of the Republic of Kosovo , with access to the SWIFT system , will also benefit in facilitating money laundering fight financing of terrorism , "says Maxharraj .

Otherwise , use this code from commercial banks operating in the country , easily allows for transfers and international transactions , and also reduces the cost of international transfers , experts say this issue .
SWIFT bank code for Kosovo is good news for the country , because the benefits are multidimensional , as economically , as well as politically , considering Naim Gashi , a professor at the University of Prishtina .
" In political terms , SWIFT code indicates that Kosovo has an economic identity in the international banking sector , while in economic terms , is that SWIFT code creates convenience in financial transactions , which make financial institutions in Kosovo " .
" It affects the cost of bank transfers from one place to another place . However , what is more important , it also affects the reduction of the time financial transactions , " Gashi estimates .
In the absence of SWIFT code , Gashi said that the burden of paying citizens of Kosovo who had higher costs for international transfers , compared with regional countries and other European countries .

This is because in the absence of the Code all banks operating in Kosovo had to have a correspondent bank in the west , which always adds to the cost of transactions .
Using SWIFT - code , affecting the growth performance of commercial banks , but also the Central Bank of Kosovo itself internationally , says another professor in the Faculty of Economics , Safet Merovci , who teaches a course on International Finance .

Merovci says that the use of unique code Kosovo , increases security and foreign investors .
" It affects mostly to foreign investors , because transactions sees that makes a code to another country and investing in Kosovo , certainly politically investors to fear from investments in Kosovo " , says Merovci for Radio Free Europe .
In a press release , Kosovo Bankers Association , has announced the launch of SWIFT code enforcement Kosovo banking system in the country