The Central Bank of Montenegro (CBCG) is dedicated to fulfilling all obligations related to the further development and integration of the financial system into the European economic and market space, stated CBCG Governor Irena Radović.
In a meeting with the European Union (EU) Ambassador to Montenegro, Johan Satler, and the EU Delegation team, Radović emphasized the CBCG’s commitment to aligning the domestic regulatory framework with EU legislation and adopting European standards and best practices.
Radović highlighted that these efforts will directly contribute to the success of Montenegro’s integration processes and further strengthen the stability of the financial system. She noted that a reliable, efficient financial system integrated into the European framework would make Montenegro a more attractive destination for foreign investments, creating conditions for stronger economic growth.
She expressed gratitude to Satler for the support the EU provides Montenegro through financing projects from European funds, which are crucial for the faster and more effective implementation of reforms, as well as for strengthening the institutional, regulatory, and administrative capacities of the CBCG.
The meeting also served as an opportunity to review the upcoming activities for Montenegro on its European path, particularly through the lens of the Growth Plan for the Western Balkans, aimed at providing regional countries with access to EU membership benefits before formal accession.
One key aspect of this plan is joining the Single Euro Payments Area (SEPA), where Montenegro has made significant progress and is expected to be the first among Western Balkan countries to join this system. Membership in SEPA will bring numerous benefits to Montenegrin citizens and businesses by enabling simpler, faster and cheaper transactions.
