Governor Ismaili participates in the High-Level Roundtable on Payment Systems in the Western Balkans, as part of the International Monetary Fund and World Bank Spring Meetings in Washington D.C.

The Governor of the Central Bank of the Republic of Kosovo (CBK), Mr. Ahmet Ismaili, participated in the high-level roundtable titled “Payment Systems in the Western Balkans: Progress Report and Future Developments,” organized by the World Bank as part of the 2025 Spring Meetings of the World Bank and the International Monetary Fund, taking place in Washington D.C. The roundtable gathered senior officials from the European Central Bank (ECB), the Bank of Italy, Ministries of Finance, and Governors of Central Banks from Western Balkan countries.

The meeting opened with welcoming remarks from the Executive Directors of the respective World Bank constituencies, followed by keynote addresses from the World Bank Vice President for Europe and Central Asia, Ms. Antonella Bassani, and ECB Executive Board Member, Mr. Piero Cipollone.

Discussions focused on the further development of payment systems in the region, addressing topics such as the potential of domestic and cross-border digital payments, economic benefits of SEPA integration, fast payments adoption, connectivity with the European payments market, and the importance of regional coordination and international support.

In his remarks, Governor Ismaili emphasized the importance of implementing a joint regional instant payment system, highlighting that digitalization is an inevitable transformation and that institutions must ensure citizens and businesses benefit from it. He noted that Kosovo, with its young population, high internet penetration, widespread use of smart devices, and growing demand for fast digital services, presents a strong opportunity for the development of real-time payment systems. He also stressed that reducing cash usage enhances efficiency, transparency, and financial inclusion.

Governor Ismaili underlined that the TIPS Clone project fully aligns with Kosovo’s National Strategy for Low Value Payments 2021-2026 and the CBK Strategic Plan 2024-2028, which aim to modernize payment systems and promote digital financial services. He noted that the CBK has already signed a Letter of Intent with the Bank of Italy and is actively participating in the technical and steering groups of the project, while building internal teams to prepare for its implementation.

In this context, Governor Ismaili also presented the ambition to develop new value-added services such as Request to Pay, Proxy ID, and QR Code payments, stressing the importance of a joint regional approach to ensure interoperability and harmonized innovation across the region.

In conclusion, participants reaffirmed the strategic importance of developing digital payments as a foundation for advancing financial inclusion, economic integration, and modernization of financial markets in the Western Balkans. There was broad consensus that building a common financial infrastructure will accelerate the connection to the European payments market and create a solid base for further innovations. The importance of engaging all stakeholders – public institutions, financial industry, and private sector actors – was emphasized in building a sustainable, inclusive, and functional payment system aligned with the CBK’s objectives and mandate.

It was also concluded that continued support from the European Union institutions and the European Central Bank, along with strengthened regional cooperation, are essential to guarantee the success of the region’s financial integration into the European Union, yielding broad and long-term benefits.