Irena Radović, the Governor of the Central Bank of Montenegro (CBCG), participated in the Annual General Meeting of Shareholders of the Bank for International Settlements (BIS) held in Basel on June 28-29.

As stated by the CBCG, the meeting addressed key insights from the BIS’s annual economic report, gathering central bank governors from BIS member countries and other financial institutions, as well as representatives from the global financial community.

During discussions, it was notably highlighted that “trade tensions and uncertainties loom over the global economy,” which obligates central banks to fine-tune their policies meticulously.

The participants also deliberated on pertinent issues regarding the financial system’s transformation through digitalization, alongside challenges posed by artificial intelligence, market regulation, and resilience. A roundtable on cross-border and instant payments was held, focusing on enhancing international cooperation to boost efficiency and security in cross-border transactions, while also promoting financial inclusion,” the announcement stated.

Governor Radović underscored that, amid increasing geopolitical fragmentation and digital disparities, payment interoperability is essential.

She stressed the necessity of developing an inclusive infrastructure that fosters long-term resilience and economic growth, particularly in smaller and more open markets like the Western Balkans. In this regard, she highlighted the Central Bank of Montenegro’s initiative to establish a national instant payments platform—TIPS-clone—developed in collaboration with the Bank of Italy and supported by the European Central Bank. This modern infrastructure, she noted, would facilitate quicker, safer, and more affordable transactions, thereby enhancing the competitiveness and access to financial services for citizens and businesses while further integrating Montenegro into the EU’s financial framework,” the statement explained.

The Central Bank of Montenegro pointed out that the Bank for International Settlements, established in 1930, is the oldest international financial institution dedicated to fostering monetary and financial cooperation among central banks globally.

“The CBCG remains an active participant in BIS activities and relevant international forums, driving regional and European integration through modernization and institutional development,” the statement concluded.

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