Governor Ismaili meets World Bank Group delegation: Progress and next steps in financial sector reforms discussed

The Governor of the Central Bank of the Republic of Kosova (CBK), Mr. Ahmet Ismaili, accompanied by Deputy Governors Ms. Shileku Shala and Mr. Fusha, received a high-level delegation from the World Bank Group. The meeting focused on reviewing progress and outlining next steps in the implementation of key reforms in Kosovo’s financial sector.

The delegation included Ms. Xiaoqing Yu, World Bank Division Director for the Western Balkans; Mr. Marcelo Castellanos, IFC Senior Country Manager for Southeast Europe; Ms. Carole Megevand, World Bank Country Manager for Kosovo; Mr. Visar Perani, IFC Country Officer for Kosovo and North Macedonia; and Mr. Besart Myderrizi, Senior Private Sector Specialist.

Governor Ismaili presented recent developments in the financial sector, particularly in banking and insurance supervision, and emphasized the continued resilience and stability of the sector. He reaffirmed that strengthening financial stability, modernizing payment systems, and advancing financial inclusion remain key priorities of the CBK, while highlighting the importance of continued cooperation with the World Bank Group in advancing reforms that deliver tangible benefits for citizens and businesses.

Discussions focused on the implementation of the Financial Sector Development Project, including progress toward the establishment of a Faster Payments System based on the TIPS Clone provided by the Banca d’Italia. This system is expected to significantly enhance the efficiency, speed, and interoperability of payments, while the tender for overlay services is planned to be launched in the coming months.

The meeting also addressed Kosovo’s progress toward SEPA integration. Governor Ismaili informed the delegation on the re-submission of the Law on Payment Services, as well as ongoing efforts to amend the AML Law in line with comments from DG FISMA. These steps are essential for meeting the technical and regulatory criteria for SEPA participation.

Progress under the Digital Financial Services Project was also highlighted, including the establishment of coordination structures, advancement of Open Banking through a dedicated working group, improvements to the Credit Registry, and enhancements to digital onboarding processes, including e-KYC. In addition, capacity-building activities with international experts have been further intensified.

Looking ahead, Governor Ismaili emphasized the importance of strengthening the financial safety net, including continued support for the Deposit Insurance Fund and the Resolution Fund, as well as the development of a comprehensive Emergency Liquidity Assistance framework.

Ms. Xiaoqing Yu and Mr. Marcelo Castellanos reaffirmed the World Bank Group’s strong commitment to supporting the CBK’s reform agenda. They emphasized the World Bank Group’s readiness to continue providing technical assistance, support legislative alignment, and contribute to long-term capacity building, in line with international and European standards.

The CBK expresses its appreciation for the continued partnership with the World Bank Group and remains committed to advancing reforms that strengthen financial stability, modernize the financial sector, and enhance financial inclusion in Kosovo.