Governor Ismaili participates in the signing ceremony of the Letter of Intent between five Western Balkan countries and the Bank of Italy for the instant payments project – TIPS Clone

Governor of the Central Bank of the Republic of Kosovo (CBK), Mr. Ahmet Ismaili, participated in the signing ceremony of the Letter of Intent for the instant payments project (TIPS Clone), organized within the framework of the International Monetary Fund and World Bank 2025 Annual Meetings.

The ceremony marked the signing of the Letter of Intent as part of the regional project for the development of a fast payments system. The Letter was signed between the Bank of Italy, the Central Bank of the Republic of Kosovo, and the central banks of Albania, Montenegro, Bosnia and Herzegovina, and North Macedonia. The signing of this Letter of Intent continues the agreement initially signed in January of this year, now including the Central Bank of North Macedonia.

The Bank of Italy, with the approval of the Governing Council of the European Central Bank, as the developer and operator of the Eurosystem’s instant payment system (TIPS), is building the TIPS Clone system to provide this infrastructure to several Western Balkan countries, including Kosovo.

This project represents the most significant infrastructural and strategic initiative of the CBK, contributing to the achievement of the institution’s objectives and Strategic Plan.

This strategic partnership with the Bank of Italy marks a historic moment for Kosovo, enabling it to benefit from professional and technical expertise as well as from the use of an advanced system currently operated by the Eurosystem. Additional benefits are expected to materialize with Kosovo’s eventual participation in SEPA.

The CBK expresses its gratitude to the Bank of Italy, as well as to its counterparts from the region’s central banks, for their support and collaboration in this strategic initiative.

The system’s development by the professional team of the Bank of Italy is considered a key factor for the project’s success, especially in a context where technological developments and geopolitical considerations are of particular importance.

The CBK remains committed to advancing the financial sector through concrete projects that help achieve its objectives, generating broad effects for businesses, citizens, and the economy in general, while international cooperation provides crucial support for their implementation.