Governor Ismaili participates in the Ministerial of the six countries of the Western Balkans on the Single Euro Payments Area (SEPA) of the European Union

The Governor of the Central Bank of the Republic of Kosovo (the CBK), Ahmet Ismaili, participated in the Ministerial within the framework of the Berlin Process “WB6 towards the Single Euro Payments Area of the European Union (SEPA)”, which gathered in Tirana ministers and governors of central banks of the Western Balkans.

During this high-level meeting, where representatives of the European Commission and other actors of international financial institutions were present, Governor Ismaili presented the activities undertaken by the CBK and those in the process that enable the membership of the Republic of Kosovo in the SEPA scheme, underlining the economic and financial benefits.

According to Governor Ismaili, the CBK is undertaking actions towards the advancement and alignment of legislation and infrastructure, to meet the criteria for membership in SEPA, in accordance with the objectives of the Strategic Plan 2024-2028.
The head of the CBK underlined that the development of the national system of fast “instant” payments and the final objective of the connection with the TIPS system will have a significant impact on the economy, especially for the free movement of capital with the largest partner of Kosovo, i.e., the European Union.

In the framework of this international meeting, the countries of the Western Balkans pledged to take concrete steps towards meeting the criteria for membership in SEPA, which would facilitate trade throughout the region and with the EU, supporting the movement of capital, economic activity and an innovative, secure and efficient payment system.