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The Central Bank of the Republic of Kosovo
, formerly known as the Banking and Payments Authority of Kosovo
, is the central bank
A central bank, reserve bank, or monetary authority is a public institution that usually issues the currency, regulates the money supply, and controls the interest rates in a country. Central banks often also oversee the commercial banking system of their respective countries...
of Republic of Kosovo
Kosovo , officially the Republic of Kosovo is a partially recognised state and a disputed territory in the Balkans...
based in Pristina
Pristina, also spelled Prishtina and Priština is the capital and largest city of Kosovo. It is the administrative centre of the homonymous municipality and district....
The bank's functions include:
- regulating payments and settlements systems.
- operate one or more payment systems.
- provide financial advice to the government (at request).
- Keep an amount of foreign currencies.
- provide a fair amount of monetary mass (banknotes and coins)
- supervise financial institutions.
- perform regular benchmarks for the economical status of Kosovo.
However, As Kosovo is not a member of the eurozone
The eurozone , officially called the euro area, is an economic and monetary union of seventeen European Union member states that have adopted the euro as their common currency and sole legal tender...
, the central bank does not have the power to:
- issue euro notes.
- Participate in the discussions of the Eurosystem
The Eurosystem is the monetary authority of the Eurozone, the collective of European Union member states that have adopted the euro as their sole official currency...
Hashim Rexhepi, governor of the Central Bank, was arrested in July 2010 in the context of a corruption investigation. Rexhepi was suspended from his functions under suspicion of multiple counts of corruption, and he was dismissed by the Parliament of Kosovo on 28 October 2010.