Regulatory Alerts2019-07-31
Regulation on Directors and Senior Managers of Banks
The Central Bank of the Republic of Kosovo issued this regulation to establish 'fit and proper' standards and independence criteria for approving and monitoring bank directors and senior managers. It mandates assessments of integrity, judgment, leadership, competence, and financial soundness while capping independent directors' shareholdings at one percent to ensure unbiased oversight. Applicable to all licensed banks with specific foreign branch exemptions, the rules empower the CBK to interview candidates, disqualify non-compliant individuals, and enforce penalties after replacing the 2012 predecessor.
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