Skopje, 7 July 2003

Press release of the NBRM

Today (July 07, 2003), the National Bank of the Republic of Macedonia Council held its regular session at which, among other issues, the Report on the measures and the activities undertaken by the receiver of the Export Import Banka a.d. Skopje, as well as the accomplishment of the Plan set by the receiver and adopted by the National Bank of the Republic of Macedonia Council for the period from the day the Export Import Banka a.d. Skopje was put under a receivership, until June 30, 2003, were reviewed.

Pursuant to Article 92 of the Banking Law, the National Bank of the Republic of Macedonia Council extended the receivership procedure in the Export Import Banka a.d. Skopje, re-appointing Igor Davkov to the position of a receiver in the Bank for the next six-month period. The Council also paid a tribute to the receiver and the attorney's office engaged by the receiver for their results in the implementation of the activities for the collection of claims and the court procedures for depriving the property of the Bank's debtors.

The National Bank of the Republic of Macedonia Council was informed about the negotiations the receiver conducts with the possible rehabilitators of the Bank, and decided that those negotiations should continue, stating that the outcome should be presented to the Council in a timely manner.

The National Bank of the Republic of Macedonia Council stated that despite the fact that the courts will be closed due to the summer vacations, the largest part of the initiated court procedures and the procedures for the realisation of the activated collateral enabling the Bank to acquire real estate and liquid assets, which will be used for the rehabilitation of the Bank and remuneration of the Bank's clients, will be completed within the next six months. 

The National Bank of the Republic of Macedonia Council was also informed about the findings of the joint mission of the International Monetary Fund and the World Bank for assessment of the financial system in the Republic of Macedonia. In addition, the Council was also informed about the results of the tests made by the Mission regarding the stability of the banking system in the Republic of Macedonia, as well as the statements made on the professional management within the National Bank of the Republic of Macedonia. The members of the Council were satisfied that the findings of the Mission regarding the safety and the soundness of the banking system are completely corresponding to the reports the Departments submit to the National Bank of the Republic of Macedonia Council.

The Council was also informed about the results of the survey made by the USA International Development Agency regarding the confidence of the people in the Government institutions, with the public confidence in the NBRM being assessed very highly.

Governor's Office