Kurti: Adoption of the law brings Kosovo closer to joining SEPA

Kosovo Prime Minister Albin Kurti expressed his gratitude to the deputies who approved, at second reading, amendments and supplements to the Law on the Prevention of Money Laundering and Combating Terrorist Financing.

Kurti said that the adoption of this law paves the way for fulfilling the final criterion for Kosovo’s integration into the European payments system SEPA (Single Euro Payments Area).

According to him, joining this system will significantly reduce the cost of bank transfers, providing financial relief for citizens, businesses and the diaspora.

The savings expected to result from bank transfer fees are estimated at around 58 million euros per year.

“I thank the deputies who yesterday, at second reading, voted for the amendments and supplements to the Law on the Prevention of Money Laundering and Combating Terrorist Financing.

With the adoption of this law, Kosovo also fulfills the final condition for integrating into the European payments system SEPA (Single Euro Payments Area).

Membership in this system will enable bank transfers at much lower cost and save our citizens, businesses and diaspora around 58 million euros per year in fees,” Kurti wrote.

Integration into SEPA is intended to facilitate euro payments between Kosovo and participating countries, reducing transfer costs and simplifying the financial ties of citizens and businesses with European states.