The Central Bank of Montenegro (CBCG) Governor Irena Radovic met National Bank of Austria (OeNB) Governor Robert Holzmann in Vienna to discuss CBCG strategic priorities, including institutional strengthening, regulatory reforms and alignment with European System of Central Banks standards, supported by technical assistance from the OeNB and the Eurosystem. A central focus was accelerating Montenegrin banks’ joining of Single Euro Payments Area (SEPA) schemes following Montenegro’s recent accession to the SEPA area. The governors highlighted SEPA scheme participation as a key step in modernising Montenegro’s payment system, enabling faster, cheaper, more efficient and safer euro transactions domestically and cross-border. Radovic outlined CBCG work to support banks’ technical and legal preparation, including engaging external experts, organising training, and coordinating stakeholders through the Committee for the Coordinating SEPA Accession, alongside broader bilateral cooperation aimed at strengthening financial stability and improving the regulatory framework.
Central Bank of Montenegro 2025-01-16
Central Bank of Montenegro meets National Bank of Austria to prioritise Montenegrin banks’ connection to SEPA schemes
CBCG Governor Irena Radovic and National Bank of Austria Governor Robert Holzmann discussed CBCG's strategic priorities, focusing on institutional strengthening and regulatory reforms aligned with European standards. A key topic was accelerating Montenegrin banks' integration into SEPA schemes, enhancing euro transaction efficiency and safety. Radovic emphasized CBCG's technical and legal preparations for SEPA participation, supported by external experts and stakeholder coordination.