Nicosia, Cyprus. The Central Bank of Cyprus hosted the governor of the Central Bank of Montenegro and a senior delegation on July 7 for talks on Cyprus’ experience of European integration, central banking operations and preparations for eventual participation in the Eurosystem.
The meeting took place at the bank’s headquarters, where CBC governor Christodoulos Patsalides welcomed Central Bank of Montenegro governor Irena Radović and senior officials for a working visit.
Meeting agenda
According to a statement from the Central Bank of Cyprus, the two governors discussed recent economic and financial developments, as well as issues of common interest relating to central banking, financial stability and European integration.
Focus on European systems
The CBC said the discussions focused primarily on Cyprus’ experience in the practical implementation of the requirements of the European System of Central Banks and the Eurosystem.
Particular emphasis was placed on organisational structures, governance arrangements, resource allocation, operational efficiency, digital transformation, information technology services and infrastructure, as well as payment systems.
Presentations by CBC officials
According to the central bank, senior CBC officials delivered presentations outlining the practical experience and lessons learned from Cyprus’ accession to the European Union and its subsequent adoption of the euro.
Preparation for future integration
The CBC said the visit forms part of the Central Bank of Montenegro’s ongoing preparations for future integration into the European System of Central Banks and the Eurosystem.
It added that the meeting provided an opportunity for an open and constructive exchange of views, practical experience and good practices between the two central banks.
Ongoing cooperation
The CBC said it places high value on its cooperation with the Central Bank of Montenegro and looks forward to further strengthening the professional relationship between the two institutions.
