The Central Bank of the Republic of Kosovo reported that it is in the final stage of preparations to complete the steps required for Kosovo’s application to the Single Euro Payments Area (SEPA). Governor Ahmet Ismaili reviewed progress during a meeting with the new European Union ambassador to Kosovo, Dirk Schübel. The application is being prepared for submission to the European Payments Council in coordination with relevant EU institutions. The preparations follow approval of amendments to legislation on preventing money laundering and terrorist financing, which fulfilled a key legislative condition for the application. The bank had previously identified implementing regulations and technical updates as further steps before submission. Legal and technical preparations also cover measures against currency counterfeiting and protection of the euro’s integrity. The meeting reviewed development of the TIPS Clone instant payment system as part of ongoing payment infrastructure modernization. SEPA integration and alignment with European payment systems aim to enable faster, safer and cheaper cross-border payments for individuals and businesses.
Central Bank of the Republic of Kosovo reports final preparations for SEPA application in EU talks
The Central Bank of the Republic of Kosovo reported that preparations for Kosovo’s SEPA application are in their final stage during Governor Ahmet Ismaili’s meeting with EU Ambassador Dirk Schübel. Work follows approval of legislation on preventing money laundering and terrorist financing, with submission to the European Payments Council still ahead. Discussions also covered the TIPS Clone instant payment system and alignment with European payment infrastructure.