The Governor of the Central Bank of the Republic of Kosovo, Mr. Ismaili, participates in the Berlin Process Forum of Economic Ministers in Tirana

The Governor of the Central Bank of the Republic of Kosovo, Mr. Ismaili, participates in the Berlin Process Forum of Economic Ministers in the framework of the Berlin process in Tirana, titled “Common Regional Market – a Stepping Stone towards EU Single Market”.
In this high-level forum, the need to connect the Western Balkan countries to the European Central Bank’s rapid payment system known as TIPS (TARGET Instant Payment Settlement was asserted, in order to facilitate and speed up cross-border payments between the six Western Balkan countries and the EU.
In the framework of this project, the countries of the Western Balkans committed to take concrete steps towards meeting the criteria for membership in the EU SEPA payment scheme (Unified Payments Zone in the EU). This membership would facilitate trade throughout the region and with the EU, supporting capital movement, economic activity and an innovative, secure and efficient payment system.

On the sidelines of this meeting, Governor Ismaili was part of the panel with the topic “Integration of the Region’s Payment Systems to facilitate trade and prepare the economies of the Western Balkans for an eventual integration into the Eurozone”, where he revealed the strategic orientation of the Central Bank of the Republic of Kosovo towards the reform of the National Payments System, as well as the importance of its connection to regional and EU payment systems.
In addition to the contribution to the Republic of Kosovo economy, this process directly impacts the benefits of businesses, citizens and the diaspora, in the sense of cost reducing, as well as increasing the speed and security of payments and remittance transactions.