* . * . . .
  • Contact Us
  • Privacy Policy
  • Terms of Use
  • Cookie Privacy Policy
  • DMCA
  • California Consumer Privacy Act (CCPA)
Thursday, June 5, 2025
Love Europe
  • Politics
  • Business
  • Culture
  • Opinion
  • Lifestyle
  • Sports
  • Travel
No Result
View All Result
  • Politics
  • Business
  • Culture
  • Opinion
  • Lifestyle
  • Sports
  • Travel
No Result
View All Result
Love Europe
No Result
View All Result
Home North Macedonia

Balkans: Bankitalia to implement instant payment system for 5 countries in the region

January 10, 2025
in North Macedonia
Balkans: Bankitalia to implement instant payment system for 5 countries in the region
Share on FacebookShare on Twitter
ADVERTISEMENT

La Bank of Italy will drive the creation of an instant payment system for Western Balkans, a project involving Albania, Bosnia and Herzegovina, Kosovo and Montenegro, with the possibility that North Macedonia may join in the future. Signing of the Letter of Intent It took place today at Palazzo Koch, during a ceremony attended by the Governor and the Deputy Director General of the Bank of Italy, together with the Governors and Deputy Governors of the central banks of the countries involved.

The timing and role of Bankitalia

The instant payment system will be operational within 18 months from the start of works, which are expected soon. Once active, the system will allow you to make payments in real time in all currencies of the participating countries. In a later stage, they will be Developed additional features to make the service even more comprehensive and innovative. This project represents a significant advance for the region, thanks to a modern and accessible technology that will enhance the local financial infrastructure.

The Bank of Italy will have a central role in the management and development of the platform, which will be based on a replica of the Tips system, already used in Europe to ensure safe and fast instant payments. Tips was designed to support real-time transactions, offering a technologically advanced and reliable solution.

The initiative, approved by the Governing Council of the European Central Bank, has already collected the adhesion of Albania, Bosnia and Herzegovina, Kosovo and Montenegro. North Macedonia, although it has not yet formalized its participation, could join the project in the near future.

A step towards European integration

The system, once completed, will not only enable payments between the Western Balkan countries, but will also open up the possibility of a bilateral connection with the TIips platform, which operates in the European Union.

Today’s agreement represents an important step in the process of integration of the Western Balkan countries into the European Union, marking a concrete commitment to modernization and integration into European financial systems. The signing of the Letter of Intent is a fundamental step towards closer economic cooperation in the future, which could offer long-term benefits for both the Western Balkans and the EU as a whole.

Source link : http://www.bing.com/news/apiclick.aspx?ref=FexRss&aid=&tid=678142beb1874bfabac5036d7f8489dd&url=https%3A%2F%2Fwww.firstonline.info%2Fen%2FBalkans-Bank-of-Italy-to-Implement-Instant-Payment-System-for-5-Countries-in-the-Region%2F&c=12587871770454795041&mkt=en-us

Author :

Publish date : 2025-01-10 06:11:00

Copyright for syndicated content belongs to the linked Source.

Tags: EuropeNorth Macedonia
ADVERTISEMENT
Previous Post

Norway Wants to Build New Air Shelters in Case of War – The Defense Post

Next Post

Cigarette Taxes in Europe, 2024 – Tax Foundation

Related Posts

North Macedonia

North Macedonia vs Belgium: Key Preview and Winning Predictions for 2026 FIFA World Cup Qualifiers

North Macedonia

Tragedy Strikes North Macedonia: Nation Mourns Nightclub Fire Victims as 15 Detained

North Macedonia

Deutsche Telekom Launches Game-Changing B2B One Portal in North Macedonia – EUROP INFO

ADVERTISEMENT

Highlights

Thrilling Highlights and Unforgettable Moments from the 2025 Monaco Grand Prix

Discover the Perfect Time to Visit Montenegro for an Unforgettable Trip

Samskip Unveils Exciting New UK-Netherlands Shortsea Cargo Route

Norway Cracks Down as School-Leavers’ Russ Bus Parties Spiral Out of Control

Poland’s PM Donald Tusk to Seek Confidence Vote Following Election Defeat

Categories

Archives

January 2025
MTWTFSS
 12345
6789101112
13141516171819
20212223242526
2728293031 
« Dec   Feb »
  • Contact Us
  • Privacy Policy
  • Terms of Use
  • Cookie Privacy Policy
  • DMCA
  • California Consumer Privacy Act (CCPA)
No Result
View All Result
  • Home
  • Politics
  • News
  • Business
  • Culture
  • Sports
  • Lifestyle
  • Travel
  • Opinion

© 2024 Love-Europe

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
Go to mobile version