The Central Bank of the Republic of Kosovo reported that Governor Ahmet Ismaili set out Kosovo’s progress toward joining the Single Euro Payments Area (SEPA) during a regional governors’ panel, framing SEPA participation as a practical route toward European Union single market integration and lower-cost payments for citizens and businesses. He highlighted reforms led by the central bank, including the finalisation of three key laws and more than 20 secondary acts, supported by the World Bank, to underpin compliance with SEPA requirements. The central bank also submitted a SEPA pre-application at the end of 2024, but a constitutional review of adopted laws has meant the European Commission’s assessment has not yet been delivered, slowing progress. The central bank cited estimates that SEPA membership could generate more than EUR 55 million in annual benefits through lower transfer costs, higher efficiency, and improved conditions for exporters and the private sector. Next steps identified include further investment in technical infrastructure, alignment of standards and functionality in the national payments system with SEPA technical requirements, and close coordination with banks and other payment service providers, including work on a fast payments system project described as a “TIPS clone”.
Central Bank of the Republic of Kosovo 2025-06-13
Central Bank of the Republic of Kosovo outlines SEPA accession reforms and notes constitutional review delaying European Commission assessment
The Central Bank of the Republic of Kosovo, led by Governor Ahmet Ismaili, outlined progress toward joining the Single Euro Payments Area (SEPA) for EU market integration and cost-effective payments. Key reforms include finalizing laws with World Bank support, though a constitutional review has delayed the European Commission's assessment. SEPA membership is projected to yield over EUR 55 million annually in benefits, with further steps involving technical infrastructure investment and alignment with SEPA standards.