Kosovo’s central bank announced on 6 November that it had submitted the application to bring Kosovo within the geographical scope of the Single Euro Payments Area. It cited reforms to payment-services, banking and anti-money-laundering rules. [1]
Submission starts a formal assessment and does not give Kosovo automatic SEPA inclusion. A positive decision would be followed by procedures for financial institutions to join the relevant payment schemes. The bank said eventual participation could make cross-border euro transfers cheaper and more efficient; those benefits are prospective. [1]
