certification in specialized institutions in this field. continuous qualification and professional education are key for the cbk, both for its employees and for the financial industry as a whole. special emphasis in the cbk's regulation will be given to the inclusion of the role of the certified accountant and certified internal auditor in the regulation, in addition to the requirements for external audit. the cbk is in the process of harmonizing legislation regarding standards for engagement of external auditor, both in terms of the years of engagement as well as limiting discontinuation from consecutive audits. the cbk, through its regulatory framework and supervision of financial institutions for prevention of money laundering and close cooperation with other authorities at country level, is committed to reduce informal economy and to build a long - term resilient and developed economy. challenges such as implementing new financial industry standards, with a focus on insurance, such as ifrs 17, illustrates the need for cooperation between regulatory, policy - making institutions, financial sector, the academia, and professional groups. also, in light of its commitment to improve the financial system's stability against risks related to the climate and the environment, we will engage in harmonizing the regulatory framework with european union regulations and directives and the basel standards, thus strengthening supervisory practices. application of international financial reporting standard s1 and s2 on disclosure of business entities'information for management of climate and environmental risks, as well as investment opportunities in the function of the green economy, will also be at the focus of the cbk. finally, as the cbk we expect to have more accurate financial statements and qualitative audits, in order to correctly present the real situation of the business entities'financial statements, to facilitate right decision - making, bank lending, providing insurance products and other financial services from financial institutions in order to develop the private sector and the economy of the republic of kosovo in general. increasing professional capacities and quality assurance remain our priorities, which help achievement of the cbk's objectives, but also the overall development of the country. i wish you fruitful and successful discussions in the following panels. thank you! 2 / 3 bis - central bankers'speeches 3 / 3 bis - central bankers'speeches

dear minister bytyqi, dear mr. marco mantovanelli, director of the world bank for kosovo and north macedonia, dear mr. patrick etienne a€ “ country director, swiss state secretariat for economic affairs ( seco ) dear ms. lori michealson, representative of the us embassy dear president of the board mr. mrasori, dear representatives of financial institutions, dear students and teachers, dear representatives of media ladies and gentlemen, it is my pleasure to welcome you to this event marking the global money week in the function of financial education, with our main affiliates, the ministry of education, the world bank, the swiss state secretariat for economic affairs ( seco ) and the european fund for south east europe, who i would like to take this opportunity to thank for the unreserved support to advance developments in the financial sector in kosovo in general and financial education in particular. this year, global money week is especially important for two reasons : firstly, for the fact that with the activities that we will organize this week, we have brought the republic of kosovo to the attention of the international arena, where the activities that we will organize this week can be followed internationally through " live streams " from central banks, regulators and international organizations dealing with financial education issues ; secondly, for the fact already announced by the cbk that 2019 will be the year of consumer protection and the activities that we will organize in the field of financial education will be in the function of consumer protection. in the present environment, where we are all witnessing the financial stability that kosovo enjoys, placing kosovo's financial system at a level that is comparable not only with the countries of the region but also those of the european union, the financial education has occupied a specific place on our development agenda. moreover, the financial services sector has a strong share in economic growth, job creation, building of vital infrastructure and sustainable development for kosovo. services and products of the financial sector affect the life of every citizen of kosovo. therefore, we are grateful, to all our associates, some of whom are here with us today, for the support they have provided to the central bank and other relevant institutions in building a financial market that treats consumers fairly, encourages financial involvement and helps citizens to make effective use of financial services. one of cbk's strategic goals is to encourage the development of a sound financial system in the republic of kosovo and to further develop the financial education function with a view to creating a sound financial culture that helps all stakeholders