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New SWIFT code for Kosovo approved


Prishtina, Oct 12, 2004 International Standards Organization (ISO) has responded positively to the request of UNMIK chief, Soren Jessen-Petersen for Kosova to have its own SWIFT code, Kosovar News Agency "KosovaLive" reports.

On August 19 Jessen-Petersen requested the ISO to approve Kosova's existing code "QZ", currently also in use by VISA Card.

The ISO's letter addressed to UNMIK chief reads that ISO does not oppose the use of SWIFT code of VISA Card for Kosova.

Joseph Martinez, ISO official wrote o Jessen-Petersen that since VISA Card code called QZ is a code determined for usage, as such can be used by all parties to identify a certain territory which requires the ISO criteria implementation.

At BPK's request, Jessen-Petersen requested the Banking and Payment Authority of Kosova (BPK) and all Kosova commercial banks use this code on international transactions.

Due to its undetermined political status, Kosova is not allowed to have its own banking code. However, seven Kosova commercial banks have used the codes of other countries, depending on the agreement with their counterpart banks.

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