The Central Bank of Montenegro provided an update on its European integration work during a farewell meeting between Governor Irena Radović and Germany’s outgoing ambassador to Montenegro, Peter Felten. The discussion covered the results of cooperation to date, Montenegro’s EU accession process and opportunities to deepen cooperation between the central bank and German institutions. Governor Radović highlighted Germany’s support for Montenegro’s institutional capacity building and financial sector reforms, with particular emphasis on Deutsche Bundesbank’s role in the Needs Assessment project for the Central Bank of Montenegro’s future integration into the European System of Central Banks and the Eurosystem. She also reviewed progress on aligning with the EU acquis in chapters within the bank’s remit, strengthening the regulatory and supervisory framework, implementing SEPA standards and introducing the European instant payments system TIPS Clone on the previous day. Felten described the central bank as a key institution in Montenegro’s European integration process and pointed to its work on EU alignment, payments modernization and anti-money laundering and terrorist financing supervision.

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