Банкарскиот систем-клучна алка во финансискиот систем на Р.Македонија
The banking system -key element in the financial system of the Republic of Macedonia

Summary/Abstract: The major idea behind this study was to provide an overview of the banking sector in the Republic of Macedonia as a key pillar of the financial sector and the economy in general. Therefore, it was necessary to identify its major features, as well as the relevant actors. At the beginning it was important to be underlined that the growth and development of any economy depends squarely on the savings, investments as well as the capital formation of the financial system. Adequately, the banking sector plays an outstanding role in efficient allocation of resources, accelerating economic growth, proving by that its importance for the Macedonian economy. Here, special accent has been put on the role of the National Bank and its functions. In addition, the management structure of the National Bank (the bodies of the National Bank - the Council and the Governor) and its organizational structure emphasize the importance of this institution for the entire banking sector as а “mother of the banks”. Consequently, the banks (in particular) and the saving houses as driving force of the banking sector were observed by their role, the share in the banking sector structure (market share), and their division according to the respective indicators. Having into account the crucial role of the banks’ management and decision making bodies (General Meeting of Shareholders, Supervisory Board, Board of Directors, Risk Management Committee and Auditing Committee) in determination of the success of each bank, it was important to give as well an overview of all those bodies and their responsibilities, as well as to the leading banking principles. Finally, it was concluded that the cooperation between the National Bank (as sole supervisory agency) and other banking institutions proved to be a main pre-condition for stable and secure banking system. General remark is that there is no stable economy and stable financial system without a solid banking sector. Macedonian banking sector has been growing constantly. By this, it affects directly the positive development trends of the entire domestic economy.

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