Advancing the CBK’s cash operations in cooperation with the Banca d’Italia

10/11/2023

In the framework of Phase II of the Program for Strengthening the Capacity of Central Banks in the Western Balkans with the Aim of Integration into the European System of Central Banks, on 7 - 8 November 2023, in the Central Bank of the Republic of Kosovo (CBK) was carried out the first expert mission related to bilateral measure of cooperation with the Banca d'Italia. This bilateral measure of cooperation focuses on assessing and advancing the practices for regulating and conducting cash operations at the CBK. The first expert mission related to this bilateral measure follows a study visit of the CBK officials to the Banca d'Italia, and it will be followed by a second expert mission from the Banca d'Italia to the CBK at the beginning of next year. During their stay at the CBK, the experts from the Banca d'Italia, in addition to the meeting with the professional staff of the CBK, also met with the Governor of the CBK, Mr. Ahmet Ismaili.

This bilateral measure is prepared to support the advancement of the CBK’s cash operations and, consequently, the development of cash flow in the Republic of Kosovo. The CBK expects that the activities within this bilateral measure will contribute to the improvement of the performance of its primary tasks and the achievement of its long-term development objectives, by adopting and aligning with contemporary standards and practices of the euro area. 

Phase II of the Program for Strengthening the Capacity of Central Banks in the Western Balkans with the Aim of Integration into the European System of Central Banks was launched in September 2022, and it is expected to last three years. This program is financed by the EU, and it includes the European Central Bank, 20 central banks of the EU countries, as well as 8 central banks and financial supervision authorities from the Western Balkans region. The Deutsche Bundesbank administrates and coordinates this program.