Governor Ismaili hosted the World Bank delegation in a meeting. They discussed the following agreed projects for the financial sector: Strengthening the financial sector, membership in SEPA and modernization of the payment system

The Governor of the Central Bank of the Republic of Kosovo (CBK), Mr. Ahmet Ismaili, along with his deputy governors and colleagues, held a constructive meeting with the World Bank (WB) delegation from Washington D.C., led by Mr. Alper Ahmet Oguz and his associates.

The discussions focused on current developments in the financial sector, the ongoing collaboration between the WB and the CBK, and the WB’s new programs, one of which is strengthening of the financial sector, and besides other aspects related to the CBK scope, one component is dedicated to the CBK. Governor Ismaili expressed gratitude to the World Bank team for their ongoing support, citing their importance to the CBK’s objectives.

During the meeting, Governor Ismaili also updated the WB delegation on the progress of the legal and regulatory framework towards harmonization with those of the European Union, emphasizing the CBK’s preparations for the pre-application process for membership in the Single Euro Payments Area (SEPA). The World Bank’s regional project for the modernization of the payment system played an important role in this process, and gratitude and acknowledgment were expressed.

In this sense, the project under discussion intends to assist the CBK in modernizing the local payment system to instant payments, with the ultimate objective of integrating it with the European Union’s payment systems, specifically with the European Central Bank’s, following its accession to SEPA. Collaboration with our partners and widespread institutional support are necessary for this endeavor.

Additionally, Governor Ismaili underlined the significance of these collaborations beyond preserving economic stability and bolstering the stability of Kosovo’s financial system, as well as financial inclusion that benefits all individuals and enterprises.

At the end of the meeting, there was a reaffirmation of the commitment to keep working together to successfully implement projects that directly benefit the financial sector and the nation’s economy as a whole.