Business
Ismaili meets the team of IFC and WB experts, they talk about digital financial services
The Governor of the Central Bank of Kosovo, Ahmet Ismaili together with his team, hosted the team of experts from the International Finance Corporation (IFC) and the World Bank in a meeting to discuss the possibility of cooperation in the new regional project for the advancement towards Digital Financial Services (Digital Financial Services - DFS). The announcement states that at the meeting the teams of the two institutions discussed and agreed on the launch of new cooperation and partnership in this project, to advance Digital Financial Services in the Republic of Kosovo, with a special focus on the compliance of regulations with international standards, the expansion of the use of digital financial services based on best practices, raising awareness at the level of the financial sector, encouraging cooperation between the actors of the financial system and the private sector, to promote free competition and innovation. "The governor of CBK, expressing his readiness to start this project, emphasized the importance of modernization and digitalization as important objectives of the Strategic Plan of CBK, emphasizing the continuous progress of CBK towards the modernization of the payment system, with the support of the World Bank and other partners", the announcement states. Also, Governor Ismaili pointed out the CBK's intention to advance towards compliance with SEPA (Single Euro Payments Area), with the final goal of integration into the TIPS (Target Instant Payment Settlement) system of the Eurozone. "The meeting also discussed the various areas where the IFC can support the financial sector and the economy, including advances in the field of electronic signature, digital banking activities of customer identification (Digital Onboarding) and initiatives for Open Banking (Open Banking) . Participants emphasized the need for orientation towards innovative methods that promote cooperation and partnership between the sector and the regulator. This project will be complementary to the technical assistance that CBK has through the World Bank for the Modernization of the Payment System", the announcement states. Governor Ismaili expressed his gratitude for the continuous support for the World Bank Group, where through its financial institutions it has contributed and is contributing to the development of the institutional capacities of the CBK in various fields as well as the development and modernization of the financial sector with significant impacts throughout the economy.
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