CBK joins the European Automated Clearing House Association (EACHA)

24/05/2024

Deputy Governor of the Central Bank of the Republic of Kosovo (CBK), Mr. Dardan Fusha, and the President of the European Automated Clearing House Association (EACHA) Mr. Jose Luis Langa, signed the CBK’s Membership in this organization following the vote of its members during the Plenary Meeting held along with the Payment Forum in Sofia, Bulgaria.

Membership in EACHA comes at a crucial time, aligning with ongoing projects and reforms in digitalization of payment services. It provides an opportunity to learn from the experiences of other countries in joining SEPA and TIPS. It will also facilitate the identification and adoption of an instant payment solution for domestic transactions in the Republic of Kosovo, and it will facilitate access of banks and other payment service providers to the European clearing houses, supporting CBK's strategic goal of modernizing payment systems and integrating with SEPA.

EACHA has members from 25 European countries, including several notable central banks such as Deutsche Bundesbank and Bank D’Italia, alongside major bank-owned European payment system operators and infrastructures. The organization supports its members in implementing European Payment Council’s Payments Rules and Standards, and provides a forum for sharing experiences in developing and adopting new payment schemes, systems and infrastructures.

Moreover, EACHA represents its members needs in European institutions, providing information, discussing common issues, networking, and developing standards to promote interoperability for retail payment systems in SEPA area. EACHA maintains close contact with the EU, ECB, EPC, and other European institutions.  

This platform will help the CBK and the payment service providers to adopt EU standards and prepare the market for integration with EU payment schemes and systems. It will also enable CBK to stay closely involved in the new payment initiatives and developments in the EU, and in supporting the advancement of payment market in the Republic of Kosovo.