obligations from immovable property ownership. the regulatory framework applied to financial institutions aims to determine the minimum requirements and standards that must be applied by every licensed financial institution. appraisal of immovable property in relation to transactions in which immovable property is used as collateral for any credit instrument issued by financial institutions, as well as determining which immovable property transactions require the services of a licensed appraisers is of primary importance. property appraisal potentially affects capital allocation through risk - weighted assets, for loans that are collateralized by immovable property. once we have managed to have this process finalized, we will also look at the possibility of considering commercial immovable property collateral to be weighted with a smaller weight in risk weighted assets. currently these collaterals are weighted with a risk of 100 percent according to our regulation, so that when the appraisal is more accurate / fair, they will be able to be weighted with a lower weight. this would also enable the release of capital and therefore the possibility for more lending. the cbk cooperates closely with the supervisory council on licensing of immovable property assessors, established by the ministry of finance, labour and transfers, in which it also participates with its representative. in addition to the licensing by this council of a number of immovable property appraisers who carry out appraisal for the needs of the financial sector, the cbk has also licensed a number of its personnel engaged in the examination of financial institutions, who assess reports prepared by appraisers engaged for financial institutions. the cbk is committed to further advancing the regulatory and supervisory framework related to the appraisal of immovable property. we expect that through this usaidsupported project, we will be able to advance the existing legal and regulatory framework of the appraisal of immovable property, including establishing the necessary mechanisms for quality control of appraisal and adequate monitoring of appraisers. in this regard, the central bank of the republic of kosovo, through its involvement in the inter - institutional working group, within the framework of the international monetary fund program, has been involved in the preparation of the residential property price indices, a project which is being led by the kosovo agency of statistics. we expect that these changes will directly affect banks and other financial institutions to correctly implement the applicable regulatory requirements, as well as to advance their policies and procedures related to the appraisal of immovable property, in accordance with international best practices and european union standards,

ahmet ismaili : welcoming remarks - world savings day welcoming remarks by mr ahmet ismaili, governor of the central bank of the republic of kosovo, at the world savings day, pristina, 31 october 2023. * * * dear mr. jaha, director of " xhevdet doda " gymnasium in prishtina dear mrs. shatri, professor dear students, i address you today on world savings day, which aims to promote educational habits by promoting the culture of savings in the world, especially in the republic of kosovo. world savings day was established as an event to promote savings on 31 october 1924 at the first international savings bank congress held in milan, italy. this day is marked with informative and educational activities with the aim of informing and raising the awareness of citizens about the importance and financial responsibility of savings and their impact in the future. the central bank of the republic of kosovo marks this day for the 8th year in a row through awareness, educational and informative activities with the aim of encouraging students and young people to be informed and understand the ability of proper money management. the european commission has declared 2024 the year of skills, and of course financial education skills are included, as one of the main social skills, personal finance management, so that the decisions of citizens are then appropriate decisions for the future. the cbk will also focus on access to finance education and inclusion, where, during 2024, it will work in this direction. for this purpose, we will also coordinate with the bank of albania, to cooperate and harmonize financial education materials and propose it to be part of the school curriculum, as far as possible. the world is changing fast and we must keep up with it, and advanced changes in information technology, environmental and social changes, and geopolitical changes have become part of our daily life, and we must prepare to face them. today, more than ever, it is important to cultivate a genuine culture of managing and protection of personal finances and the protection of the environment, so that in the social and environmental aspect, as an individual, as a family or as a society, we have stability and sustainability. you are still young, but it is the right time to think about your financial future, and it is important to create the knowledge and skills of proper management of personal finances, create the habit of savings, and awareness of economic and financial issues. 1 / 2 bis - central bankers'speeches young people should set clear