Regulatory Alerts2015-04-30
Regulation on Safe Deposit Box
The Board of the Central Bank of the Republic of Kosovo issued this regulation to establish comprehensive rules, procedures, and criteria for licensed banks operating safe deposit boxes in Kosovo. It mandates standardized contracts, defines user and bank liabilities regarding stored valuables, and outlines strict access controls, item restrictions, and forced opening procedures under court orders. The framework further dictates nonpayment remedies, including contract rescission and the auction of contents to recover unpaid fees, while specifying termination protocols upon user death or legal entity cessation.
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