Kosovo Country Commercial Guide
Learn about the market conditions, opportunities, regulations, and business conditions in kosovo, prepared by at U.S. Embassies worldwide by Commerce Department, State Department and other U.S. agencies’ professionals
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Trade Financing
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Methods of Payment

About 75 percent of Kosovo importers regularly receive goods under short-term supplier credit agreements. Longer-term financing may be sought for larger purchases but may be difficult to obtain. Kosovo has a SWIFT code and uses the IBAN format for bank accounts.

For more information about the methods of payment or other trade finance options, please read the Trade Finance Guide.

Banking Systems

Kosovo uses the euro as its national currency even though the country is not a member of the Eurozone. As such, the country has no independent monetary policy.

Kosovo’s banking system is well-regulated, profitable, and liquid. The CBK is an independent public agency with the authority to license, supervise, and regulate financial institutions and insurance companies in Kosovo. The CBK has adopted banking rules and regulations in line with the Basel Accords and EU directives.

According to data from 2024, eleven commercial banks, seven of which are foreign-owned, operate in Kosovo, representing around 66.3% to 68.4 percent of total assets in the financial sector. Foreign commercial banks account for about 83.1 percent of total banking system assets, and three domestic banks account for the remaining 15 percent. Pension funds represent 25.7 percent of financial system assets, followed by microfinance institutions (3.9 percent), and insurance companies (3 percent). Other non-bank financial institutions amount to 5 percent. In June 2023, financial sector assets, including banks, pension funds, insurance companies and microfinance, amounted to €11.9 billion, recording an annual growth rate of about 10.5 percent.

The financial sector remains stable. In 2024, the average year on year (YoY) increase of new loans was 22%. Bank asset quality remains satisfactory, with non-performing loans remaining stable at 2 percent as of September 2024. Kosovo signed the Foreign Account Tax Compliance Act (FATCA) with the United States in March 2015. FACTA is an information-sharing agreement between the Kosovan government and the U.S. Department of Treasury that ensures that American citizens and legal permanent residences with foreign-held bank accounts comply with their U.S. tax obligations.

There are no special rules or regulations that might impact U.S. businesses.

Foreign Exchange Controls

Kosovo unilaterally adopted the euro as its national currency in 2002. The CBK has no monetary policy tools to influence its currency. Other than reporting to Kosovo Customs the removal or importation of €10,000 into the country, there are no currency or payment restrictions related to the use of the euro in Kosovo.

U.S. Banks And Local Correspondent Banks

There are no U.S. banks operating in the market or local correspondent banks in Kosovo.
To access Kosovo ICS section on financing, visit the U.S. Department of State Investment Climate Statement website.

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