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27/11/2024

Representatives of the Information Technology Department of the Central Bank of Montenegro (CBCG) visited the Bank of Italy (Banca d'Italia) as part of the EU-funded 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”.

The second of three planned visits within this project took place on September 25-26, 2024, at the Bank of Italy’s primary IT center, Centro Donato Menichella. During the two-day visit, experts from the Bank of Italy provided detailed presentations on various cloud-based technologies, their importance in information systems, and the latest standards for establishing, operating, and maintaining modern cloud data centers.

The knowledge and experiences gained during this visit play a pivotal role in enhancing and modernizing CBCG’s information systems while further aligning its regulatory and operational framework with European central banking standards.

This collaboration with the Bank of Italy marks a significant step in strengthening CBCG’s capacities and advancing the integration of Montenegro’s financial sector into the European System of Central Banks. The bilateral cooperation will be concluded with an expert mission from the Bank of Italy to CBCG, scheduled for the first quarter of 2025.

This project and cooperation with ESCB members, such as the Bank of Italy, are of great importance for CBCG, as they foster the exchange of expertise and best practices, driving the further modernization of Montenegro’s banking system and its alignment with European standards.