Governor Ismaili speaks at the Panel of the “Vienna Initiative” International Forum in Lithuania, alongside central bank Governors and Leaders of international financial institutions

The Governor of the Central Bank of the Republic of Kosovo (CBK), Mr. Ahmet Ismaili, spoke at the “European Bank Coordination – Vienna Initiative” International Forum in Vilnius, Lithuania, where he discussed the role of digitalization in advancing financial services, specifically the digitalization of payments, and Kosovo’s preparations for fast payments and integration into Single Euro Payments Area (SEPA).

Organized under the auspices of the Bank of Lithuania (Lietuvos Bankas), in cooperation with the European Bank for Reconstruction and Development (EBRD), the European Investment Bank (EIB), the International Monetary Fund (IMF), the World Bank Group (WB), the European Central Bank (ECB), and the European Commission (EC), this year’s Forum agenda included high-level discussions on the major challenges for policymakers, banking competition in the region, interest rates and the monetary environment, and the challenges and opportunities of digital banking.

Governor Ismaili, speaking on the panel on “Improving Dialogue with Fintech – Commercial Banks – Regulatory/Supervisory Authorities,” presented the CBK’s work on digitalization and infrastructure advancement, fast payments, harmonizing legislation with SEPA, facilitating access to finance, and expanding financial inclusion, in line with the strategic plan. In addition, the expansion of the scope and the role of non-banking/payments institutions expected with the legislative changes, were the main highlights and orientations of the CBK’s discussion in this panel. The support of the European Union (EU) institutions and partners such as the World Bank in achieving this goal with a very significant positive impact on the economy was also highlighted.

The high-level “Vienna Initiative” Forum, chaired by the Governor of Croatia, Mr. Boris Vujčić, and organized by the Governor of Lithuania, Mr. Gediminas Šimkus, brought together Governors from the region and several European countries, including Slovenia, Estonia, Ukraine, Moldova, etc.

During the Forum, Governor Ismaili had fruitful meetings with several central bank governors from the region and Europe, as well as high representatives from the IMF, World Bank, EBRD, EIB, and other present financial institutions present.

The “Vienna Initiative”, which was launched in January 2009 with the initial goal of ensuring financial stability in Europe, has evolved over time from a temporary platform for crisis mitigation into a permanent forum for discussions where relevant policymakers and representatives of the financial industry exchange views on specific issues from various perspectives.

The CBK continues to develop and maintain institutional reports and cooperation with central banks in order to follow developments and access best macroprudential practices that promote the country’s financial stability and contribute to the achievement of the objectives of the institution.