The Central Bank is unjustified/ It does not explain why a private company is being promoted

2025-11-05 19:36:00, Denoncim CNA

The Central Bank is unjustified/ It does not explain why a private company is

Following CNA's denunciation of the agreement between the National Business Center and the Institute of Fiscal Experts, the NBC has provided a response to CNA.

CNA requested transparency on this cooperation and clarifications from the public institution as to whether it favored the private company SmartFin, which is being promoted as a provider of "free" services for businesses in the field of fiscalization and accounting.

QKB favors private companies/ "Free" platform that distorts competition in the market
November 3, 16:41

The NCC's response emphasizes that the cooperation is in full compliance with the law and that the cooperation agreement does not constitute unfair intervention in the market and does not violate competition, referring to Article 5 of the Law "On the Protection of Competition".

"The cooperation agreement between the CKB and IEF (NPO) does not constitute unfair market intervention and does not violate competition, since, as provided for in the law, agreements that contribute to technological and economic development, in favor of consumers, are not prohibited. The agreement between the CKB and the Institute of Fiscal Experts meets these conditions, as it aims to improve financial reporting through the use of technology and the provision of free services in favor of commercial entities," states, among other things, the CKB's response to CNA.

The Central Bank is unjustified/ It does not explain why a private company is

But what is missing from the reaction is the essential issue denounced by CNA, why is a private company like SmartFin promoted through the Central Bank and the IEF?

According to the Central Bank, the proposal for signing the memorandum came from IEF itself, which requested the free provision of the SmartFin program for the technological and economic development of businesses.

The institution adds that the agreement does not provide any financial benefits for the Central Bank and the IEF and that it is not binding on commercial entities, but represents only a voluntary opportunity to benefit from free services.

"The proposal for signing the memorandum came from the Institute of Fiscal Experts (NPO), which has submitted a request for the free provision of the automated SMARTFIN program - Fiscalization, Accounting and Auditing, which contributes to the technological and economic development of commercial entities. The agreement does not provide for any financial benefit for the parties, the Central Bank of Kosovo and the IEF (NPO)," the reaction states.

Meanwhile, regarding CNA's question about whether QKB is supporting a certain company that could affect other private businesses that are licensed and offer the same paid services, the institution adds:

"The agreement between the CKB and IEF does not contain any provision that provides for exclusivity or limitation of cooperation with other entities that provide similar services. Also, the agreement is not binding on commercial entities, but represents only an opportunity to benefit from free services, on a voluntary basis," says the CKB.

However, the National Business Center avoids any direct mention of the SmartFin company, even though it is precisely this private platform that is being distributed to businesses through the NBC-IEF collaboration.

The official response does not provide any clarification on how the platform was selected, whether any market impact assessment was conducted, or whether other licensed operators in the field were consulted.

In practice, the cooperation of the Central Bank with a private application that is promoted with support from a public institution creates the perception of a free state service, placing SmartFin in a privileged position compared to other competitors.

CNA will continue to follow this issue, and in the coming days we will publish audit recordings of conversations between private businesses, IEF, and Smartfin.

These conversations reveal the confusion caused by this collaboration, as representatives of SmartFin and IEF are heard giving different explanations about the nature of the collaboration with the Central Bank and the "free" period of the application, leaving businesses uncertain about who is really behind this service, the state or a private company./ CNA