CBCG Delegation in Frankfurt Shares Experience with Key European Partners

27/02/2026

During a working visit to Frankfurt, the CBCG delegation led by Governor Irena Radović, held several bilateral meetings with senior representatives of European institutions, thereby reaffirming CBCG’s strong commitment to full regulatory, institutional, and operational integration into the European financial framework.

The CBCG delegation met with Bruna Szego, Chair of the Anti-Money Laundering Authority (AMLA), the central body for harmonised supervision in this area within the EU. During the meeting, they confirmed CBCG’s full commitment to aligning with AMLA and EU standards in preventing money laundering and terrorist financing, in anticipation of Montenegro’s full EU membership. CBCG representatives presented tangible results achieved over the past two years – ranging from significant improvements in a risk-based supervisory approach and the establishment of a robust system for applying effective, deterrent, and proportionate measures, which appropriately contribute to the stability and resilience of the financial system, to consistent implementation of the best international standards. The participants agreed that combating money laundering and terrorist financing is a shared responsibility in safeguarding the European financial system’ integrity, and expressed readiness to establish structured early cooperation between AMLA and CBCG, including intensified communication and consideration of modalities for institutional collaboration in the upcoming period, ahead of Montenegro’s full EU membership.

During discussions with the Head of the European Systemic Risk Board Secretariat (ESRB), Francesco Mazzaferro, particular attention was given to cooperation on strengthening the macroprudential framework, improving analytical capacities, and aligning with European recommendations on identifying and monitoring systemic risks. In this context, the ESRB Secretariat expressed its willingness to support CBCG in further developing its macroprudential framework and aligning with European standards. Of particular importance is the possibility of regular information exchange with the ESRB at this stage, so that CBCG’s macroprudential framework can be developed in accordance with ESRB principles, recommendations, and guidelines, and so that the institution is fully prepared for the obligations arising from EU membership and participation in the European system of systemic risk supervision. This cooperation further contributes to strengthening CBCG’s analytical capacities and building a modern and resilient financial stability framework.

At a meeting with representatives of the European Central Bank (ECB), CBCG presented progress in regulatory and infrastructural alignment with EU and European System of Central Banks (ESCB) standards. ECB representatives were informed of operational experiences to date regarding the functioning of the SEPA system and its positive effects on improving efficiency, security, and competitiveness of payment systems, contributing to the further development of Montenegro’s economy.

One of the key topics discussed was the ECB’s strategic support for the TIPS Clone instant payments project and the status of its implementation. The discussion highlighted that this project represents a major step towards the full integration of Montenegro’s payment system into the European instant payments area. “These reforms have imposed a significant financial burden on CBCG, which we have consciously undertaken, considering that the long-term benefits for citizens, the economy, and the state outweigh the short-term financial impact on the institution itself,” stated Governor Radović.

The CBCG delegation included Zorica Kalezić and Gordana Kalezić, the Vice-Governors; Dragana Bjelobrković Vukčević, Adviser to the Governor; Andrija Jovović, Director of the Payment System Department; and Saša Šćekić, Director of the IT Department.