CBCG and CNB Finalise Bilateral Payment Operations Activities within the IPA Project

23/10/2024

The CBCG and the Croatian National Bank (HNB) have completed bilateral activities in payment operations within the IPA 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.

The CBCG engaged in three missions with experts from the HNB to enhance its professional capacities in the supervision and application of regulations governing payment operations. 

The final mission involved a visit by CBCG representatives to the HNB from 21 to 23 October 2024. During the visit, HNB experts shared their experience in licensing payment institutions and electronic money institutions, measures to protect payment service users’ funds, expectations from the PSD3 directive, supervision activities, regulations related to instant payments, and the introduction of the digital euro.

The HNB’s Payment System Department representatives presented activities in licensing payment institutions and institutions for electronic money and handling complaints. Discussions also covered changes in regulations governing payment operations in the EU and operational tasks within payment operations, including regular reporting and incident handling.

The cooperation with the HNB has significantly contributed to the proper application of regulations governing payment operations in Montenegro and improved supervision standards in this area.

Bilateral cooperation with the central banks of the EU member states is essential for enhancing the CBCG’s functioning and organising its activities on its path to the EU and the ESCB, particularly in payment operations and payment services provision.