Governor Ismaili met the team of experts from the International Finance Corporation (IFC) and the World Bank regarding the new project for Digital Financial Services
The Governor of the Central Bank of the Republic of Kosovo, Mr. 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 project of new regional for the advancement towards Digital Financial Services (Digital Financial Services - DFS).
In 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, expanding the use of services financial digital 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 the CBK, expressing his readiness to start this project, emphasized the importance of modernization and digitization as important objectives of the CBK Strategic Plan, emphasizing the continuous progress of the CBK towards the modernization of the payment system, with the support also of the World Bank and other partners.
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 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.
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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