BANKING ACTIVITY - PARTICIPATION IN THE FINANCIAL SYSTEM OF THE REPUBLIC OF NORTH MACEDONIA
BANKING ACTIVITY - PARTICIPATION IN THE FINANCIAL SYSTEM OF THE REPUBLIC OF NORTH MACEDONIA

Summary/Abstract: The bank as a joint stock company can be established only after obtaining permission from the Governor of the National Bank of the Republic of North Macedonia. Issues related to the establishment, organization, structuring and operation of the bank are addressed in detail in the Law on Banks. In addition to treatment from a theoretical and normative point of view, the author through the methods of analysis, synthesis and statistics processed the official data of the National Bank mainly over the past six years. The study provides data that recently banks kept the dominant position in the financial system and their role of the most significant segment for preserving financial stability, despite the decrease of their share in the total assets of the financial system, at the expense of the increased share of pension funds. Such a position of banks has been maintained despite the obstacles, difficulties and crises, including the most severe and unpredictable crisis of recent years such as the Covid-19 Pandemic.

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