Governor Ismaili meets with Ms. Xiaoqing Yu, Director for the Western Balkans at the World Bank in Vienna

The Governor of the Central Bank of the Republic of Kosovo (CBK), Mr. Ahmet Ismaili, met with Ms. Xiaoqing Yu, Director for the Western Balkans at the World Bank (WB), at the Bank’s premises in Vienna during his official visit. The meeting focused on strengthening cooperation between the two institutions, with an emphasis on the latest developments and ongoing reforms in Kosovo’s financial sector.

Governor Ismaili highlighted recent developments in the financial sector, particularly in banking and insurance supervision, reporting frameworks, payment systems, resolution mechanisms, climate risk management, digital financial services, and reforms in non-bank financial institution legislation. He also stressed the importance of finalizing the regulatory framework and developing the necessary infrastructure to ensure fast and secure payments, aligning with CBK’s broader objective of integration with EU payment systems. In addition, the advancement of the reserve management framework and the adoption of best practices under the World Bank Treasury – RAMP program were highly appreciated.

The discussion also covered the latest financial sector projects, including the SEPA and TIPS Clone payment systems project, reforms to the Deposit Insurance Fund, and additional initiatives supporting other components of the financial sector, taking into account current internal circumstances.

Governor Ismaili expressed his gratitude to the World Bank for its continuous support, highlighting the critical role of financing and technical assistance in the successful implementation of these strategic projects. He emphasized that reforms in the insurance sector, including the implementation of IFRS 17 and the Solvency II regime, following the roadmap jointly prepared with World Bank experts, along with the enhanced reporting framework for banking supervision (FINREP and COREP), will significantly contribute to the resilience of overall Kosovo’s financial sector.

Ms. Yu reaffirmed the World Bank’s commitment to supporting the CBK in fulfilling its mandate, particularly regarding financial sector infrastructure and payment system development. She underlined the institution’s readiness to continue providing technical assistance and capacity-building support, to be further elaborated during the upcoming Annual Meetings.

Both parties agreed to maintain close technical cooperation to ensure the successful implementation of ongoing reforms across the financial sector, including banking, insurance, and non-bank financial institutions.

The Governor of the Central Bank of the Republic of Kosovo (CBK), Mr. Ahmet Ismaili, met with Ms. Xiaoqing Yu, Director for the Western Balkans at the World Bank (WB), at the Bank’s premises in Vienna during his official visit. The meeting focused on strengthening cooperation between the two institutions, with an emphasis on the latest developments and ongoing reforms in Kosovo’s financial sector.

Governor Ismaili highlighted recent developments in the financial sector, particularly in banking and insurance supervision, reporting frameworks, payment systems, resolution mechanisms, climate risk management, digital financial services, and reforms in non-bank financial institution legislation. He also stressed the importance of finalizing the regulatory framework and developing the necessary infrastructure to ensure fast and secure payments, aligning with CBK’s broader objective of integration with EU payment systems. In addition, the advancement of the reserve management framework and the adoption of best practices under the World Bank Treasury – RAMP program were highly appreciated.

The discussion also covered the latest financial sector projects, including the SEPA and TIPS Clone payment systems project, reforms to the Deposit Insurance Fund, and additional initiatives supporting other components of the financial sector, taking into account current internal circumstances.

Governor Ismaili expressed his gratitude to the World Bank for its continuous support, highlighting the critical role of financing and technical assistance in the successful implementation of these strategic projects. He emphasized that reforms in the insurance sector, including the implementation of IFRS 17 and the Solvency II regime, following the roadmap jointly prepared with World Bank experts, along with the enhanced reporting framework for banking supervision (FINREP and COREP), will significantly contribute to the resilience of overall Kosovo’s financial sector.

Ms. Yu reaffirmed the World Bank’s commitment to supporting the CBK in fulfilling its mandate, particularly regarding financial sector infrastructure and payment system development. She underlined the institution’s readiness to continue providing technical assistance and capacity-building support, to be further elaborated during the upcoming Annual Meetings.

Both parties agreed to maintain close technical cooperation to ensure the successful implementation of ongoing reforms across the financial sector, including banking, insurance, and non-bank financial institutions.