Governor of the Central Bank of Montenegro (CBCG), Irena Radović, visited the Austrian National Bank (OeNB) in Vienna, where she held talks with Governor Robert Holcman.
According to the statement, the meeting provided an opportunity to exchange views on CBCG’s strategic plans related to further institutional strengthening and alignment with the standards of the European System of Central Banks, as well as key steps in Montenegro’s European economic integration process.
Governor Radović and Governor Holcman discussed topics related to financial stability, regulatory reforms, and the institutional strengthening of the CBCG through technical support from OeNB and the Eurosystem. One of the main topics of the meeting focused on the integration of Montenegrin banks into SEPA (Single Euro Payments Area) schemes, in light of Montenegro’s recent accession to the SEPA area. Both governors expressed confidence that the process of integrating Montenegrin banks into SEPA would be successful, with active support from the CBCG and relevant partners. The completion of this process was deemed crucial for modernizing Montenegro’s payment system, enabling faster, cheaper, more efficient, and secure euro transactions both nationally and internationally, which would subsequently strengthen the competitiveness and growth of the Montenegrin economy, the CBCG statement noted.
Governor Radović presented the CBCG’s activities in the technical and legal preparation of banks for SEPA integration. She highlighted the involvement of external experts, the organization of training, and the activities of the SEPA Accession Coordination Committee to ensure comprehensive support and coordination among all participants in the process.
The meeting also covered other aspects of bilateral cooperation between the central banks of Montenegro and Austria, with a special focus on the importance of applying best practices to strengthen financial stability and improve the regulatory framework. Governor Radović thanked Governor Holcman for his cooperation and support in these important processes, which are vital for Montenegro’s continued integration into the European economic space, the CBCG concluded.