Central Banking

Macedonia links up with EU payment infrastructure

Igor Velickovski interview, NALM Europe 2017 screenshot

Macedonian banks that have accounts with the Macedonian Interbank Payments System (Mips) will soon be able to make euro payments through Europe’s Target2 payments infrastructure.

The small European nation, which is not yet part of the European Union, began working on connecting Mips with Target2 at the start of 2017.

“Mips was upgraded to making euro payments and connecting to TARGET2 through the Bank of Italy,” the National Bank of the Republic of Macedonia (NBRM) announced in a statement rel