The Central Bank of Kosovo has decided to discontinue the circulation of the existing banknote with a value of 500 euros.

The Board of the Central Bank of Kosovo approved the new Regulation on Cash Operations.

Through this regulation, which comes into effect on February 1, banking and non-banking financial institutions are obliged to cease the circulation of the existing banknote with a value of 500 euros.

“The import and export of banknotes and coins in euros and other currencies in the Republic of Kosovo can only be done by licensed banking and non-banking financial institutions by the Central Bank of the Republic of Kosovo for the exercise of banking financial activities”.

Furthermore, it is stated that in order to prevent the introduction of counterfeit money, individuals and legal entities that do not engage in financial activities are required to declare the coins if they carry more than 100 pieces per unit, regardless of the amount.

“No individual or legal entity can offer deposit or cash withdrawal services through any location with physical service or through any device or machine used by the client, on behalf of offering financial services without possessing a license and authorization from the Central Bank of the Republic of Kosovo. No individual or legal entity can import and equip with technical-electronic machines for cash withdrawal and deposit services unless licensed as a financial institution for offering banking activities, or a non-banking financial institution with licensed electronic money and payment services”.