Governor of the Central Bank of Montenegro (CBCG), Irena Radović, announced at the Economic and Financial Dialogue in Brussels that Montenegro will officially join the SEPA (Single Euro Payments Area) in November 2025. The first SEPA transactions are expected to begin by October of the same year.
As part of the transition, Montenegro will launch online clearing in line with ISO 20022 standards on May 19, while a national instant payment system based on the European TIPS Clone is planned for July 2026.
Radović highlighted that these developments represent an important step in modernizing the financial system and integrating Montenegro into the European financial framework ahead of formal EU membership. She noted that CBCG’s active participation at the EU level reflects the country’s strong commitment to economic alignment with the European Union.
According to CBCG estimates, SEPA and instant payments could generate an annual benefit of around 160 million euros, or 2.3 percent of GDP. Over the next ten years, this is expected to increase GDP per capita by 2,538 euros and reduce the income gap with the EU by 11 percentage points.
The ongoing reforms aim to support the growth of cashless payments, improve digital infrastructure, and strengthen the competitiveness of Montenegro’s economy. CBCG remains focused on regulatory harmonization, institutional transformation, and full alignment with the European System of Central Banks.
