Turkish And Kosovan Banking Authorities Sign Agreement

ANKARA - Turkish and Kosovan banking authorities have signed a cooperation agreement.
Turkey`s Banking Regulation & Supervision Agency (BDDK) and Central Banking Authority of Kosovo (CBAK) signed the memorandum of understanding in Kosovo on May 12th, a statement by the Turkish authority said on Wednesday.
The memorandum of understanding envisages the two countries to get accurate information about banks and financial organizations, create an institutional frame that will facilitate cooperation in cross-border audit, and share experiences and technologies.
BDDK was set up to safeguard the rights and benefits of depositors and to create the proper environment, in which, banks and financial institutions can operate with market discipline, in a healthy, efficient and globally competitive manner, thus, contributing to the achievement of long-run economic growth and stability of the country.
CBAK is a public entity with the authority to license, supervise and regulate financial institutions in the territory of Kosovo.
(BRC-MS)