Instant payments, CBK: Strategic partnership with the Bank of Italy marks a historic moment for Kosovo

The Governor of the Central Bank of Kosovo (CBK), Ahmet Ismaili, participated in the signing ceremony of the Letter of Intent for the Instant Payment project – TIPS Clone, organized as part of the 2025 Annual Meetings of the International Monetary Fund (IMF) and the World Bank (WB).

According to the announcement, the ceremony marked the signing of the Letter of Intent within the framework of the regional project for developing instant payment systems, signed between the Bank of Italy, the Central Bank of Kosovo, and the central banks of Albania, Montenegro, Bosnia and Herzegovina, and North Macedonia.

“The signing of this Letter of Intent continues the agreement signed in January of this year, 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 provide this infrastructure to several Western Balkan countries, including Kosovo,” the announcement said.

It further noted that this project represents CBK’s most important infrastructural and strategic initiative, contributing to the achievement of the institution’s objectives and Strategic Plan.

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“This strategic partnership with the Bank of Italy marks a historic moment for Kosovo, enabling it to benefit from professional and technical expertise, as well as the use of an advanced system currently operated by the Eurosystem. Additional benefits are expected to materialize with Kosovo’s membership in SEPA,” the statement added.

The development of the system by the professional team from the Bank of Italy is considered a key factor for the project’s success, especially in a context where technological developments and geopolitical aspects are of particular importance.

The CBK remains committed to advancing the financial sector through concrete projects that help achieve its objectives, bringing broad benefits for businesses, citizens, and the economy in general, while international cooperation provides crucial support for their implementation.