CBK Contributes to regional discussions on the modernization of payment systems through TIPS Clone

The Governor of the Central Bank of the Republic of Kosova (CBK), Mr. Ahmet Ismaili, and the Deputy Governor, Mr. Dardan Fusha, participated in a roundtable discussion on “Implementing the Target Instant Payments Settlement (TIPS) Clone Platform”, organized by the World Bank Group, with the participation of Governors and teams from the five central banks of the Western Balkans, Banca d’Italia, and representatives of the World Bank.

The discussion aimed to review the progress achieved in the preparations for the launch of the TIPS Clone platform, planned for this year, as well as to assess the readiness of central banks and national ecosystems to connect to the instant payments system.

During the roundtable, Banca d’Italia presented an update on progress toward the completion of the TIPS Clone systems for the five participating countries, while each central bank, including the Central Bank of the Republic of Kosovo, provided updates on institutional, technical, and regulatory preparations, as well as the readiness of the banking sector for integration into the platform.

Governor Ismaili emphasized the CBK’s commitment to modernizing the payment infrastructure, describing TIPS Clone as a strategic step toward increasing the efficiency, speed, and security of payments, as well as toward strengthening regional integration and the gradual alignment with European payment standards, including the process of integration into SEPA.

Deputy Governor Fusha underlined the importance of close cooperation among central banks, Banca d’Italia, and the World Bank Group, stressing that technical and institutional support is essential to ensuring a successful and sustainable implementation of the instant payments system at both the national and regional levels.

In closing, the World Bank Group presented an update on its ongoing engagements in the Western Balkans related to TIPS Clone and the broader modernization of payment systems, reaffirming its support for reforms in the financial sector and the strengthening of institutional capacities of central banks in the region.