CBCG Workshop “EPC and SEPA: a comprehensive overview”
16/01/2025
The CBCG organised the workshop “EPC and SEPA: a comprehensive overview” for more than 100 representatives of financial institutions from Montenegro and central banks of the region.
The focus of the workshop, held in a hybrid format, was on the regulatory and technical aspects of the Montenegrin financial institutions’ accession to the Single Euro Payment Area (SEPA) payment schemes, with special reference to the regulations and guidelines of the European Payments Council (EPC) as the body responsible for this process, clearing and settlements mechanisms in the SEPA system, as well as compliance with financial crime laws and the migration project to SEPA payment schemes.
The CBCG Vice-Governor, Ms Zorica Kalezić, opened the workshop stressing that this was only one of the activities that the CBCG, as the bearer of the process related to Montenegro’s membership in SEPA, implements as support for banks and payment institutions to connect them to SEPA payment schemes as quickly as possible. The presenters were Mr Kjeld Herreman and Mr Francis De Roeck, international experts with significant experience in payment systems and payment transactions, including developing SEPA payment schemes.
Montenegro’s accession to the SEPA system represents a historic step towards integration into the financial ecosystem of the European Union, which will bring numerous benefits to Montenegrin citizens and the economy, and first of all, many times cheaper, faster and safer international payment transactions.
The CBCG will continue to provide the necessary regulatory and technical assistance in the coming period so that the banks will be ready to submit applications for joining the SEPA payment schemes by April, when the EPC, according to its calendar, will start receiving applications from Montenegrin financial institutions.