The Central Bank of the Republic of Kosova organizes Open Banking workshop for the Financial Sector

The Central Bank of the Republic of Kosova (CBK) organized a workshop “The Open Banking Revolution: Business Beyond Borders”, an event of particular importance for the development of the financial sector and the advancement of digital innovation in the country. The workshop was held in cooperation with the International Finance Corporation (IFC), within the framework of the Digital Financial Services project, supported by the Swiss State Secretariat for Economic Affairs (SECO).

The workshop was opened by the Deputy Governor for Banking Operations, Mr. Dardan Fusha, who emphasized that Open Banking is no longer a concept of the future, but a reality that is transforming financial systems across Europe and beyond. He underlined that the approval of the Law on Payment Services has established the legal foundation for the development of Open Banking in Kosovo, paving the way for increased competition, innovation, and integration of the financial market.

Deputy Governor Fusha highlighted that the development of Open Banking is the result of several years of structured work by the CBK, in close cooperation with the industry through the National Payments Council and the relevant working groups. He further noted that Open Banking, together with SEPA integration and the development of Instant Payments, represents the three key pillars that will shape the future of the payments system in Kosovo in the coming years, as concrete objectives and commitments of the CBK.

“Open Banking shifts the focus towards the consumer, enabling secure, consent-based data sharing and opening opportunities for new services and business models. However, this potential can only be realized through proper implementation, common standards, strong security, and close cooperation among all actors in the financial ecosystem,” he stated.

Participants from the financial sector (banks, non-bank financial institutions providing payment and electronic money services) had the opportunity to discuss the latest international developments in this field, including best practices from European Union countries and the region, as well as the challenges related to the implementation of Open Banking in developing markets. Particular attention was also given to regulatory alignment with European standards, including the Payment Services Directive (PSD2).

The CBK and IFC reaffirmed their commitment to cooperating in the modernization of the financial sector in Kosovo and to fostering an environment conducive to innovation, investment, and sustainable economic development, in line with the country’s aspirations for European integration.