of money, with the aim of establishing sustainable foundations for their future. the bank of albania, through the ongoing engagements in the field of financial education, has shown its commitment to the financial education of the public, which is an indispensable premise for the sustainable welfare and the protection of financial 1 / 3 bis - central bankers'speeches soundness, particularly of individuals and in general of our society. the unprecedented events we have suffered in the last years - the earthquake of 2019, the covid - 19 pandemic, and the war in ukraine - have sharply hit the sustainability of : public health, the geopolitical balances, the economy and finances. the turmoil of these fragile equilibriums created the need for the further cultivation and increase of financial literacy, as part of the overall development of individuals, to better deal with either family or personal financial difficulties. notwithstanding the considerable interventions from governments and central banks, in response to these successive and strong shocks on the economy - including the assistance packages, controls over prices and monetary policy interventions - we deem that their effectiveness is inevitably linked to an environment with a high level of financial literacy and inclusion. a financially literal person - who has the knowledge, demonstrates the right financial behaviour and positions - takes well - informed decisions in the daily financial relationships, in addition to properly understanding and reacting towards the policy - making authorities, thus making the latter's measures more effective. also, a financially involved person benefits more from the available innovative products and services, and thanks to financial literacy can navigate safely in a rapidly evolving financial market. for these reasons, the bank of albania has turned the financial literacy and inclusion in one of the important objectives of its mandate, making it an integral part of its institutional duties. however, we are aware that we are not alone in the efforts in this field. there are a lot of institutions working in parallel with us to increase financial literacy and inclusion of the public. hence, we deem that it is time to join and coordinate these efforts in a genuine national strategy. in this framework, in collaboration with the world bank and all the other national partners we have been working for the drafting of the national strategy of financial education and inclusion ( nsfei ), which delineates the general principles and objectives of financial education and inclusion. this strategy is based on the manyyears'work of the bank of albania in measuring and studying financial literacy in albania, the successful experiences in developing educational programs and in the best international practices

. 2. review of the bank ’ s on - site examination and off - site monitoring of financial institutions given the changing environment surrounding the financial industry and the bank ’ s experiences in dealing with financial institution failures, the bank recognizes the need to review its on - site examination and off - site monitoring of financial institutions from a broad perspective. it cannot be denied that examinations and monitoring by the bank during the “ bubble ” period were not fully successful in accurately grasping the financial condition of financial institutions or, based on their findings, in prompting the bank to take necessary steps to warn other parties of the situation. a central bank implements its policy through banking transactions. therefore, its on - site examinations and off - site monitoring, which are designed to accurately grasp the financial condition of individual transaction counterparties, are important starting points for execution of its policy. they are also essential in order for the bank to accurately identify the risks in the overall financial system and the possibility of their materialization, and thereby prevent disruptions in the financial system. in conducting on - site examinations, we will continue to place emphasis on the assessment of the financial strength and risk management systems of institutions. in addition, with a view to adapting to the changing environment surrounding financial institution management, the bank will become more flexible in determining the frequency of examinations and will carry out “ targeted examination, ” which focuses on specific areas of business and management. the bank also intends to follow the condition of financial institutions on a continuous basis through a closer integration of on - site examinations and daily off - site monitoring. the bank believes that the integration should also reduce the regulatory burden on financial institutions. the bank will also make public as far as possible the findings of its research and studies on the overall financial system based on the information obtained through examinations and daily monitoring. by doing so, we hope to assist the advancement of financial institutions ’ risk management techniques. 3. loans to the deposit insurance corporation now, i would like to add a word on the bank of japan ’ s lending to the deposit insurance corporation ( dic ). the bank ’ s lending to the dic has increased significantly reflecting the massive funding needs of the dic in proceeding with the resolution of the nonperforming - loan problem of financial institutions. moreover, it has become very likely that this loan exposure will be fixed for an extended period of time. the very function of a central bank is to implement monetary policy through the purchase and sale of short - term, liquid financial assets. a