Musa: CBK can license a new bank that would monitor financial transactions from Serbia

The Central Bank of Kosovo can license a new bank to monitor financial transactions from Serbia, thereby preventing fiscal evasion and money transfers that violate current laws, Leke Musa, an economic expert and former president of the American Chamber of Commerce in Kosovo, stated for Kosovo Online.

Musa believes that the regulation of the Central Bank of Kosovo regarding the use of the euro as the sole currency in circulation in payment transactions in Kosovo from February 1 this year should have been adopted earlier.

"The decision is welcome. For a country to attract foreign investors, there should be no anomalies, such as the presence of two currencies. From an economic perspective, this decision should be seen as a process that brings long-term stability to the economy of our country as it moves toward forming a normal economic system, similar to how Western economies function," Musa said.

The former president of the American Chamber of Commerce in Kosovo added that the government in Pristina, in agreements with Serbia related to financial support for the Serbian community, insisted on payments exclusively in euros.

"Citizens of Serbian nationality must get used to using only one currency in Kosovo, and that is the euro. At the same time, it is necessary to carefully monitor and prevent the growth of the informal economy in northern Kosovo or in other places where the Serbian community lives. The European Union needs to understand that northern Kosovo has been outside the fiscal system, similar to the non-payment of electricity, taxes, and other fiscal obligations that all citizens of this country have. They now need to be part of the legal and fiscal system of Kosovo. By using the euro as the currency, officials can more easily monitor transactions and determine who is not paying taxes," Musa concluded.