The Governor of the Central Bank of the Republic of Kosovo (CBK), Ahmet Ismaili, participated in the signing ceremony of the Letter of Intent for the Instant Payment project – TIPS Clone, organized within the framework of the 2025 Annual Meetings of the International Monetary Fund (IMF) and the World Bank (WB).
The announcement states that the ceremony marked the signing of the Letter of Intent within the framework of the regional project for the development of the fast payment system, which was signed between the Bank of Italy, the Central Bank of the Republic of Kosovo, as well as the central banks of Albania, Montenegro, Bosnia and Herzegovina and North Macedonia, while the signing of this Letter of Intent is a continuation of the agreement signed in January of this year but now including the Central Bank of North Macedonia.
The Bank of Italy, with the approval of the Governing Council of the European Central Bank, as the developer and operator of the Eurosystem’s instant payment system (TIPS), is building the TIPS Clone system to offer this infrastructure to several Western Balkan countries, including Kosovo.
The Central Bank of Kosovo further announces that this project represents the most important infrastructural and strategic initiative of the CBK, contributing to the achievement of the institution’s objectives and Strategic Plan.
“This strategic partnership with the Bank of Italy marks a historic moment for Kosovo, enabling it to benefit from professional and technical expertise and from the use of an advanced system currently operated by the Eurosystem. Other benefits are expected to materialize with Kosovo’s membership in SEPA,” it further states.
The development of the system by the Bank of Italy’s professional team is considered a key factor for the success of the project, especially in a context where technological developments and geopolitical aspects are of particular importance. /Telegraph/