Page 17 - Ekonomija i Biznis_May 2016.indd
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MEGA INTERVIEW
Governor Bogov, this year the Na- regulations governed by the Law on For-
tional Bank of the Republic of Macedo- eign Exchange Operations, which are
nia celebrates 70 years of central-bank- within the competence of the National
ing operations in our country. How will Bank. The aim of this analysis was to
the National Bank mark this jubilee? explore the possibilities and conditions
for reducing the administration in car-
D. Bogov: 70 years of central banking rying out transactions in the interna-
is really an important anniversary. We tional payment operations, to the extent
decided to celebrate it in an unconven- that will not disrupt the requirements
tional manner. Instead of organizing for the “foreign exchange regime” under
a solemn academy, which would be at- the Law, and in turn would contribute
tended by several hundred guests from to more efficient conduct of business in
the social and political life, we will bring the Republic of Macedonia. Based on the
the National Bank closer to several thou- analysis, we identified the need and pos-
sand citizens of Macedonia. Throughout sibility to intervene in seven Decisions,
the year we organize many events relat- of which six have been adopted to date,
ed to the great jubilee. We organize sev- and we are soon to adopt the final De-
eral international conferences; students cision, which regulates the manner and
of nearly one hundred schools across the conditions for executing payment opera-
country will visit the National Bank; we tions abroad. Although, to be honest, I
will open the doors of the Bank and of hesitate whether it is worth to continue,
our museum for the citizens; together having in mind that bankers remained
with the employees of the financial sec- silent to the unjustified attacks on the
tor we will get together and do sports at National Bank and the Governor. And
the quay of river Vardar. Our goal is to the changes were made exactly upon
raise the awareness about the role and request of the banks. As for the more
the tasks of the National Bank of the Re- extensive liberalization, it can be done
public of Macedonia. only by amending the Law on Foreign Ex-
change Operations, which is not within
In the beginning, let us turn to a the competence of the National Bank.
few current issues. Big fuss was made
over the changes in the regulation that The “Panama Papers” case has re-
is adopted by the NBRM, which is relat- cently attracted great attention. Could
ed to the possibility to have an account you explain to the public what are the
abroad. There were various opinions, individual competences of the institu-
even speculations regarding the reasons tions regarding this issue and, in this
why the changes were made and why ex- context, what are the findings of the Na-
actly at this point in time. What do the tional Bank at the moment?
changes pertain to? Will a more exten-
sive liberalization follow? D. Bogov: Yes, a big fuss was made,
though still no one knows whether there
D. Bogov: The possibility to have an are any Macedonian residents with ac-
account abroad for citizens who have counts in Panama. But we should make
foreign citizenship or legal residence it clear that the National Bank does not
abroad was introduced 50 years ago. sit in each commercial bank as if on a
Yes, you heard it right, 50 years ago, border crossing, saying which interna-
when our citizens started to move to tional transaction can be executed and
Western Europe as Gastarbeiter. But which cannot. No, payment operations
some people heard about this possibil- work differently. Businesses and citi-
ity now and made an interesting “story” zens give orders to banks to perform a
of it. During 2015, the National Bank of transaction and they submit relevant
the Republic of Macedonia analyzed the documents that confirm the grounds for
need and possibilities for revision of the the transaction. Banks check whether
May 2016 17
