Corporate Governance

With corporate sector dominated with family owned businesses, and until recently still unprivatezed Publicly Onwed Enterprises (POEs), corporate governance in Kosovo has been characterized with somewhat slower development of the past period. Corporate governance is addressed in the laws on business entities, POEs and state-owned enterprises, as well as the legislation on the banking sector. The Central Bank of Kosovo, as integrated financial regulator, has been at the forefront in promotion of good practices in this respect, and continues to encourage financial institutions under its supervision to improve their corporate governance practices. 

RTC Consulting and Recura, working together with International Finance Corporation (IFC), a member of the World Bank Group, offer services to companies, financial institutions and the wider market, through one-to-one consultations, training events, workshops and other activities in the area of corporate governance. 

Corporate governance is about far more than simply compliance - it brings real benefits to companies while outlining clear structures, processes and frameworks for achieving corporate objectives. Good corporate governance practices, when properly integrated into a company’s objectives and strategy, thus allow companies to progress towards achievement of their goals. 

In brief, good corporate governance practices help companies to:

  • enhance performance, operations, competitiveness, profitability and long-term value
  • establish clear roles, responsibilities and accountabilities
  • improve decision-making processes and the quality of decisions
  • define and implement corporate strategy and direction
  • expand in a sustainable manner
  • identify and manage risks
  • enhance the substance and structures of internal control
  • create appropriate incentives in line with business strategy
  • attract capital, investment and business partners
  • build reputation and trust, through strengthening of stakeholder relationships
  • prepare for following generations