Governor Ismaili hosts in a meeting the World Bank Mission experts regarding the latest project for financial sector development

The Governor of the Central Bank of the Republic of Kosovo (CBK), Mr. Ahmet Ismaili, together with Deputy Governors Mr. Dardan Fusha and Mr. Milot Cakaj and associates, met with experts from the World Bank (WB) Mission in the framework of the Financial Sector Development Project (FinDev) with the presence of Mr. Massimiliano Paolucci – Country Manager for Kosovo and North Macedonia, in the Europe and Central Asia Region of the World Bank.

The main topics for discussion were the necessary preparations for the implementation of the newest Financial Sector Development Project, namely the components of the digitalization of financial services (fast payment system) as well as increasing the stability of the financial sector through the advancement of the regulatory framework and the capitalization of the Deposit Insurance Fund.

CBK representatives in this meeting informed the WB experts about the latest activities of the CBK in order to achieve the objectives and the Strategic Plan, the pre-application process in the Single Euro Payments Area (SEPA) and the process of developing the Eurosystem’s fast payment system, known as TIPS. They were also informed about the activities undertaken by the CBK to improve the technical infrastructure of the CBK.

Governor Ismaili, expressing gratitude for the support of the World Bank, also informed them about developments in the financial sector, especially the adoption of the Strategic Roadmap for the Management and Supervision of Climate-Related and Environmental Risks in the Financial Sector, which was supported by the World Bank’s Financial Sector Advisory Center (FinSAC).

Mr. Paolucci reconfirmed the World Bank’s support for the projects in progress and expressed readiness for their development according to the foreseen plans.

This visit underscores the excellent cooperation between the two institutions as well as the WB’s continued support to advance financial stability and the modernization of the country’s financial sector services.