Skopje, 13 March 2023 (MIA) — As part of a working group preparing the negotiating positions for North Macedonia’s accession to the European Union and participating in the ongoing screening of the country’s legislation, National Bank representatives gave presentations on the banking system’s services and practices, according to a National Bank press release.

Examining laws and policies under Cluster 2 on Internal Market: Chapter 9 on Financial Services, Frosina Celeska and Lidija Pushevska Markovska gave a presentation on banking and financial conglomerates, and Igor Velichkovski gave a presentation the country’s payment systems and payment services.

During the first presentation, the central bank representatives reviewed the country's alignment with the EU Capital Requirements Directive, the EU Bank Recovery and Resolution Directive, and the EU Directive on the Reorganization and Winding Up of Credit Institutions. A high level of compliance of the domestic banking regulation and oversight with the EU acquis was noted in these areas, the press release says.

The second presentation included an overview of the payment services used most often by citizens as well as an overview of Law on Payment Services and Payment Systems. The law ensures full compliance with the EU Directive on Settlement Finality in Payment and the EU Directive on the Comparability of Fees Related to Payment Accounts, which were on the agenda of this bilateral meeting, the release adds. mr/