make the bc model more viable. review of the cash management practices for delivery of banking services through the branchless modes need to be done for ensuring scaling up of the various models. 7. usage of banking services – using the first phase of our fi initiative, we have successfully opened 74000 outlets in the rural areas. going forward our idea is to enable more transactions in these accounts by providing more credit products, which will not only help rural people to avail of credit at comparatively lower rates of interest but at the same time also make the bc model viable for banks. skills and capacity building of bc is as important 8. financial education – we have adopted an integrated approach for financial inclusion wherein the supply side initiatives will be ably supported by initiatives on the demand side. in this direction banks will have to support financial literacy and awareness drives to make people understand the benefits of linking with the banking system. including financial education in the school curriculum so as to educate children about the benefits of banks and banking services. will go a long way in inculcating responsible banking habits at the young age. in this direction the technical group of the fsdc has already come out with a national strategy on financial education. 9. collaborative efforts – finally, financial inclusion cannot be achieved without the active involvement of all stakeholders like rbi, other financial regulators, banks, governments, ngos, civil societies, etc. the current policy objective of inclusive growth with financial stability cannot be achieved without ensuring universal financial inclusion. banks alone will not be able to achieve this unless an entire support system would be partnering with them in this mission. all the stakeholders need to join hands and make it possible. the support of policymakers, regulators, governments, it solution providers and public at large would bring a decisive metamorphosis in indian banking. 10. as stated by our governor, dr. raghuram rajan, we have to reach everyone, however remote or small, with financial services. financial inclusion does not just mean credit for productive purposes ; it means credit for healthcare emergencies or to pay lumpy school or college fees. it means a safe means of remunerated savings, and an easy way to make payments and remittances. it means insurance and pensions. it means financial literacy and consumer protection. i should emphasize the need for banks like the ones represented in this room to move beyond simply opening bank accounts to ensuring that poor customers are confident and comfortable enough to use them. innovation in reaching out to the underserved

we are providing the banking sector with utmost modern standards of financial regulation and oversights, thus making banks and other financial institutions in kosovo operate pursuant to rules that are applicable in all developed faqe 3 nga 5 countries. also, the cbk provides the banking sector with a modern financial infrastructure. the interbank payment system, a modern, efficient and secure system, and the credit registry, which offer banks the most modern services in this field, are good examples to illustrate the financial infrastructure development in kosovo. * * * in recent years, the cbk has increased its engagement in the function of protecting the rights of financial service consumers, thus directly serving to the protection of public interest. financial education activities represent a very important part of this intervention aimed at providing the public with clear information regarding opportunities offered by the financial system and their rights in the use of financial services. for the purpose of protecting citizens and businesses more effectively, we have drafted a regulation on the disclosure of information by banks, and have established the division for dealing with complaints by users of financial services, which addresses all complaints against financial institutions. the cbk, from the moment it became functional, has and still fully supports the development of the financial system ; however i would like to emphasize that we are committed to ensuring that the financial institutions ’ development takes place in full compliance with the principles of protecting consumer rights in this regard, we are determined to further increase our commitment for protecting the rights of financial services users and requests from banks to carefully consider their legal requirements and policies in order to avoid any unreasonable obstacle that would impede normal interaction between citizens and the banking sector. we are committed and expect that the continuous development of the banking sector will create conditions for easier access and more favourable conditions for faqe 4 nga 5 citizens and businesses in the banking services. this is in line with the sustainable development objectives, prepared by the united nations, whereby under the objective of economic growth at global level, the requirement of improving access to financial services for ensuring sustainable and inclusive economic growth is clearly emphasized. * * * at the end of my speech, i would like to reiterate that kosovo ’ s banking sector is in a sound financial situation and with a constant increase of funding to kosovo ’ s sustainable economic development ; however, it requires an even greater interinstitutional commitment for creating the necessary conditions so that this sector ’ s contribution to the country's economy is even greater. the cbk will continue to support all aspects