Kosovo advances toward SEPA membership with new anti-money laundering law

The Central Bank of the Republic of Kosovo (BQK) has welcomed the Assembly's approval of amendments to the Law on the Prevention of Money Laundering and the Combating of Terrorism Financing (AML/CFT). This legislative change is considered a critical step toward Kosovo joining the Single Euro Payments Area (SEPA).

Following the law's entry into force, the BQK will issue necessary regulations and finalize technical updates to the application to align with recent changes in European legislation. Once these procedures are complete, the application will be submitted to the relevant European institutions for review.

Joining SEPA is expected to facilitate faster, simpler, and lower-cost cross-border euro transfers for citizens, businesses, and the diaspora. The BQK estimates that membership could result in annual savings exceeding 55 million euros.