Central Bank of the Republic of Kosovo and World Bank agree to deepen technical cooperation on EU-aligned payment systems and financial-sector reforms

The Central Bank of the Republic of Kosovo reported that Governor Ahmet Ismaili met World Bank Western Balkans Director Xiaoqing Yu in Vienna to strengthen cooperation, with a focus on Kosovo’s ongoing financial-sector reforms and priority infrastructure projects. The discussion covered banking and insurance supervision, reporting frameworks, payment systems, resolution and winding-up mechanisms, climate risk management, digital financial services, and legislative reforms for non-bank financial institutions. Ismaili highlighted the need to complete the regulatory framework and develop the infrastructure for fast and secure payments in line with the central bank’s objective of integration with EU payment systems, alongside work on the SEPA and TIPS Clone payment systems project and reforms to the Deposit Insurance Fund. Progress was also noted on the reserve management framework under the World Bank’s Reserve Management Program (RAMP), as well as insurance reforms including IFRS 17 and the Solvency II framework and enhanced banking supervisory reporting (FINREP and COREP). Yu reaffirmed the World Bank’s commitment to provide continued technical assistance and capacity building, with further details to be set out during the forthcoming World Bank Annual Meetings. Both sides agreed to maintain close technical cooperation to support implementation across banks, insurers and non-bank financial institutions.