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North Macedonia’s formal accession to the Single Euro Payments Area (“SEPA”) marks a significant step toward deeper European financial integration. Following the European Payments Council’s (“EPC”) decision in early 2025 to extend SEPA’s geographical scope to include the Republic of North Macedonia, commercial banks and other payment service providers (“PSPs”) based in the country are now eligible to join the SEPA Credit Transfer (“SCT”) scheme. This milestone will enable citizens and businesses in the Republic of North Macedonia to send and receive euro payments under the same efficient and standardized conditions enjoyed across the SEPA area.

The insurance arbitration system is an alternative dispute resolution mechanism aimed at resolving disputes arising from insurance contracts more quickly and efficiently, without resorting to the courts.

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