Bilateral Cooperation with the OeNB on Personal Data Protection Continues

06/06/2024

The Central Bank of Montenegro (CBCG) continued bilateral activities with the National Bank of Austria (OeNB) on personal data protection within the IPA regional project "Programme for Strengthening the Central Bank Capacities in the Western Balkans with a View to the Integration to the European System of Central Banks—Phase II."

During a two-day stay in Vienna, the CBCG representatives and their colleagues from the OeNB discussed specific issues related to implementing the General Data Protection Regulation (GDPR) in the OeNB's operations to analyse the best practices for harmonising the CBCG's operations with the GDPR requirements, which is crucial for fulfilling the prerequisites for including Montenegro in the Single European Payment Area (SEPA).

Cooperation with the OeNB, as a member of the European System of Central Banks (ESCB), is key for the CBCG to harmonise its regulatory and operational framework further with the central banking standards in the EU.