Payment interoperability is a strategic imperative amid growing geopolitical fragmentation and digital inequality, said the Governor of the Central Bank of Montenegro (CBCG), Irena Radović, during the Annual General Meeting of the Bank for International Settlements (BIS), held over the past two days in Basel.
According to a CBCG statement, the event gathered governors of BIS member central banks, other central banks, and representatives of the international financial community. Discussions focused on key findings from the BIS Annual Economic Report, with particular emphasis on how trade tensions and global uncertainty are impacting the world economy, requiring carefully calibrated monetary policy responses.
Participants also addressed the digital transformation of the financial system, the challenges posed by artificial intelligence, and the need to strengthen financial market regulation and resilience.
A dedicated roundtable was held on cross-border and instant payments, exploring ways to enhance international cooperation to improve the efficiency and security of cross-border transactions, while promoting financial inclusion.
Governor Radović highlighted that in a fragmented geopolitical landscape marked by digital divides, payment interoperability is critical for ensuring inclusive and resilient financial systems. She emphasized the importance of building inclusive infrastructure that supports long-term economic resilience and growth, particularly in small and open economies like those of the Western Balkans.
She also referenced CBCG’s initiative to introduce a national instant payment platform – a TIPS-clone – developed in cooperation with the Bank of Italy and supported by the European Central Bank. This modern infrastructure is expected to enable faster, safer, and more affordable transactions, enhancing the accessibility and competitiveness of financial services for citizens and businesses while supporting Montenegro’s integration into the EU financial ecosystem.
Founded in 1930, the BIS is the oldest international financial institution, with a mission to promote monetary and financial cooperation among central banks worldwide.
CBCG reaffirmed its commitment to actively participating in BIS activities and international forums, contributing to regional and European integration through institutional strengthening and financial modernization.
