Central Bank of the Republic of Kosovo Governor Ahmet Ismaili reviewed preparations for Kosovo’s Single Euro Payments Area (SEPA) application with Italian Ambassador Maurizio Antonini, reiterating that work is in its final stage ahead of submission to the European Payments Council. Progress on legal and technical requirements includes previously approved amendments to legislation on preventing money laundering and terrorist financing, alongside measures to combat currency counterfeiting and protect the integrity of the euro. Discussions also covered development of the TIPS Clone (TIPS-K) instant payment system in cooperation with the Bank of Italy, part of Kosovo’s ongoing modernization of payment infrastructure and alignment with European standards. SEPA participation and modern payment systems are expected to improve the efficiency and security of cross-border transactions and reduce their costs. The central bank estimates that SEPA membership alone could generate annual savings exceeding EUR 55 million for citizens, businesses and the diaspora.
Central Bank of the Republic of Kosovo reviews final SEPA application preparations with Italian ambassador
Central Bank of the Republic of Kosovo Governor Ahmet Ismaili reiterated in talks with Italian Ambassador Maurizio Antonini that Kosovo’s SEPA application remains in final preparation before submission to the European Payments Council. Discussions also reviewed the TIPS-K instant payment system being developed with the Bank of Italy. The central bank estimates that SEPA participation could save citizens, businesses and the diaspora more than EUR 55 million annually.