Governor Ismaili at the PECK III closing conference: The Project’s results have influenced the modernization of CBK’s supervisory approach and the advancement of the regulatory framework in line with European standards

The Governor of the Central Bank of the Republic of Kosovo (CBK), Mr. Ahmet Ismaili, participated as a speaker at the closing conference of the Council of Europe’s Project against Economic Crime (PECK III), who emphasized that the closing marks an important moment for strengthening financial integrity, transparency and the rule of law in the country. The results have directly influenced the modernization of the CBK’s supervisory approach and the alignment of the regulatory framework with European standards.

Governor Ismaili underlined that PECK III has not been merely technical assistance, but a strategic partnership that has strengthened institutional capacities for combating money laundering, terrorist financing, and enhancing the integrity of the financial system. He highlighted the significant transformation of the supervisory philosophy, shifting from a formal compliance model to a comprehensive risk-based approach. According to him, this new approach is essential for preserving financial stability and protecting consumers.

Furthermore, Governor Ismaili stated that, thanks to the support of PECK III, the CBK has made significant progress in modernizing the risk assessment framework, has integrated new supervisory technologies, and has finalized a comprehensive risk-based supervision manual, including the virtual assets sector.

One of the key results is the adoption of the new AML/CFT Regulation, aligned with EU and FATF standards, marking an important step in Kosovo’s preparation for the SEPA process. Additionally, the Regulation on information accompanying transfers of funds has also been harmonized with EU requirements, increasing the traceability and transparency of virtual asset transfers. Inter-institutional cooperation has also been significantly intensified, strengthening the implementation of the travel rule and the integrity of the financial market.

Governor Ismaili further highlighted that these results establish a solid basis for the upcoming MONEYVAL assessment, which will be an important test of Kosovo’s financial integrity.

In closing his remarks, Governor Ismaili emphasized that the CBK remains fully committed to deepening structural reforms in the financial system, advancing compliance with EU and global standards, and ensuring sustainable stability, integrity and monetary and financial sovereignty of the country. He expressed gratitude to the European Union, the Council of Europe and all partners who have contributed to this transformational process, underlining the importance of continuing this cooperation in the coming phases.

Continuing the proceedings, the role of the CBK in the PECK III project was also discussed. In this panel discussion, the Head of the Anti-Money Laundering and TF Division, Mr. Ilir Hasani, spoke about the strengthening of the anti-money laundering and counter-terrorist financing regime, progress made, challenges and lessons learned throughout the project.

The Central Bank of the Republic of Kosovo reaffirms that protecting financial integrity and strengthening risk-based supervision remain key priorities in building a modern, secure, and reliable financial system for the country’s citizens and economy.