The National Bank of the Republic of North Macedonia initiated a workshop to prepare domestic banks for joining the Single Euro Payments Area (SEPA) by October 2025. Governor Anita Angelovska-Bezhoska highlighted SEPA access as a means for North Macedonian banks to engage with European payment systems, facilitating faster and cheaper cross-border transactions. A steering committee within the European Commission’s Directorate-General for Neighbourhood and Enlargement Negotiations will support the process.
The National Bank of the Republic of North Macedonia opened a workshop on the technical and legal aspects of joining the Single Euro Payments Area (SEPA), setting out its plan to prepare domestic banks for operational integration by October 2025. Governor Anita Angelovska-Bezhoska noted that the country’s SEPA access request was submitted in July 2024 and is expected to be approved soon by the European Payments Council.
The central bank framed SEPA access as a step that would allow North Macedonian banks, despite the country not being an EU member, to access European payment systems and enable faster, safer and cheaper cross-border payments. It highlighted that the cost of payments from the EU to the Western Balkans is currently 12 times higher than payments between EU countries, and said it will work with the banking sector and international partners to provide technical support and regulatory oversight; a steering committee has also been formed within the European Commission’s Directorate-General for Neighbourhood and Enlargement Negotiations to support the process.
The National Bank of the Republic of North Macedonia anticipates domestic banks will connect to the Single Euro Payments Area (SEPA) by October 2025, enhancing cross-border euro payment efficiency. The central bank is overseeing banks' alignment with European standards and plans to simplify procedures for capital and inbound transactions. It aims…
2025-01-26 National Bank of the Republic of North Macedonia North Macedonia
The National Bank of the Republic of North Macedonia announced the European Commission's formation of a Steering Committee to implement the Single Euro Payments Area (SEPA) in the Western Balkans and Moldova. Governor Anita Angelovska Bezhoska anticipates North Macedonia's SEPA membership approval, citing regulatory alignment with European…
2025-04-22 National Bank of the Republic of North Macedonia North Macedonia
The National Bank of the Republic of North Macedonia adopted its 2024 Annual Report and Banking System Risk Report, approving regulatory changes for cross-border payments to facilitate participation in the Single Euro Payments Area (SEPA). These amendments eliminate mandatory documentation for most foreign payments and ensure funds are credited…