Governor Ismaili Meets with the Ambassador of Italy to Kosovo, H.E. Mr. Maurizio Antonini

The Governor of the Central Bank of the Republic of Kosovo (CBK), Mr. Ahmet Ismaili, welcomed the Ambassador of Italy to Kosovo, H.E. Mr. Maurizio Antonini, as part of a series of informational meetings and consultations with diplomatic representatives of European Union Member States, focusing on financial sector developments, institutional reforms, and the process of European financial integration.

During the meeting, Governor Ismaili presented the key developments in Kosovo's financial sector, highlighting its stability and resilience, as well as its role in supporting the country's economic development. He briefed Ambassador Antonini on the progress achieved in implementing the CBK's Strategic Plan, advancing the legal and regulatory framework, strengthening financial supervision, and developing institutional capacities in line with European Union standards and best practices.

Particular attention was given to the final preparations for Kosovo's application to join the Single Euro Payments Area (SEPA) and the modernization of payment infrastructure. Governor Ismaili outlined the progress made in fulfilling the legal and technical requirements, including the adoption of legislative amendments in the area of anti-money laundering and countering the financing of terrorism (AML/CFT), as well as measures to combat currency counterfeiting and safeguard the integrity of the euro. In this regard, he emphasized that the CBK is in the final stage of preparations for submitting Kosovo's application to the European Payments Council (EPC), in coordination with the relevant European Union institutions.

In this context, the discussions also addressed progress in developing the fast payment system through the TIPS Clone (TIPS-K) project, which is being implemented in cooperation with the Bank of Italy (Banca d'Italia). This project represents one of the key reforms aimed at modernizing Kosovo's payment infrastructure, improving the efficiency of financial services, and aligning with European payment standards and infrastructure.

Governor Ismaili expressed his appreciation and gratitude for the excellent institutional cooperation with the Bank of Italy, which encompasses banking supervision, financial market practices, capacity development, and payment systems modernization. He emphasized the importance of this partnership in advancing the CBK's reform agenda and strengthening European financial integration. The discussions also covered the establishment of the International Monetary Fund's new Regional Technical Assistance Center in Rome, as an additional opportunity to strengthen cooperation, facilitate the exchange of expertise, and enhance institutional capacities across the region.

Underscoring the strategic importance of these reforms, Governor Ismaili emphasized that SEPA integration and the development of modern payment systems will contribute to greater efficiency, enhanced security, and lower costs for cross-border transactions for citizens and businesses. According to CBK estimates, SEPA membership could generate annual savings of more than EUR 55 million for citizens, businesses, and the diaspora, while further strengthening Kosovo's economic and financial integration with the European Union.

For his part, Ambassador Antonini reaffirmed Italy's support for Kosovo's reform agenda and European integration process, including efforts towards SEPA membership and the alignment of the legal and regulatory framework with European standards. He welcomed the close cooperation between the two central banks and acknowledged the CBK's constructive role in regional initiatives undertaken in partnership with the Bank of Italy.

At the conclusion of the meeting, both sides expressed their readiness to further deepen cooperation and institutional coordination in areas of mutual interest, focusing on financial stability, payment systems modernization, capacity development, and advancing the financial integration of the Republic of Kosovo with the European Union as well as on encouraging greater business Italian presence in the country facilitated by these important developments in Kosovo's financial sector.