Central Bank of Montenegro gains European Commission backing for deeper alignment of Montenegro’s financial system with the EU and ESCB standards

The Central Bank of Montenegro reported that Governor Irena Radovic met in Brussels with senior European Commission officials to discuss priorities for European integration, centred on integrating Montenegro’s financial system into the EU’s regulatory and financial-market infrastructure. The Commission expressed strong support for Montenegro’s efforts in finance and monetary policy and acknowledged the central bank’s progress to date. The Central Bank of Montenegro highlighted recognition for advances in harmonising its regulatory framework with European Union standards, strengthening institutional capacity, modernising payment systems, and integrating Montenegro into the Single Euro Payments Area. Alongside the Commission meetings, the delegation also held discussions with the central banks of Belgium and the Netherlands on organisational and functional transformation to align the central bank with European System of Central Banks standards, with counterparts indicating willingness to pursue near-term cooperation through specific projects with Eurosystem banks.