The Board of CBK approves the Regulation on the Kosovo Interbank Payment System


On 31 August 2023, the Board of the Central Bank has approved the amendments to the Regulation on the Kosovo Interbank Payment System - KIPS, with the aim to increase the efficiency of payment services, as well as to reflect the aim at expanding the system with other payment institutions and electronic money institutions, when the conditions are created.

These amendments are part of the actions that the Central Bank has planned within one of its main objectives for promoting and maintaining a safe, stable and efficient payment system, which are expected to influence on the improvement of payment services. 

Some of the improvements in functions and processes of this system, made possible by these amendments, are as follows:

  • Account crediting for payment transactions received, only through IBAN verification, in accordance with EU SEPA Payments Scheme rules for small value payments, which is expected to have an impact on the reduction of payment returns and a more efficient processing;
  • More efficient processing of transactions due to freeing up the space of the operational base of the system;
  • Intra-day loan adjustment and revealing of some necessary tools for better liquidity management for the participants of this system;
  • The exact determination of the moment of registration and settlement of a transaction, from when it is considered irrevocable, as a basic principle of payment systems; as well as 
  • Clarifying the criteria for membership of participants in KIPS, with the possibility that in the future the legal and technical conditions will also be created for the membership of new non-bank participants, such as payment institutions and electronic money institutions.
  • You may find the regulation in the following link: Rregullore-per-Sistemin-e-Pagesave-002.pdf (