Kosovo Central Bank closes two microfinance institutions

Gazeta Express

06/12/2019 12:10

The Central Bank of Kosovo has on Friday closed two microfinance institutions. The Central Bank held an urgent press conference on Friday confirming that they have closed Iute Credit and Monego.

Governor Fehmi Mehmeti said the CBK Board based on its competencies has decided to revoke the operating licenses of the two microfinance institutions adding that Monego and Iute Credit have deviated the business plan. “The most concerning deviation was that the two microfinance institutions applied high interest rates. The interest was beyond every standard,” Mehmeti told media on Friday. /GazetaExpress/