developed countries. therefore, today i am pleased to present a banking sector with steady growth in loans and deposits, with good quality of loan portfolio, high level of capitalization and strong liquidity position. kosovo's banking sector has also made progress in enhancing the efficiency of financial intermediation, prompting loan interest rates to decline significantly in recent years. faqe 4 nga 7 similar progress has been made in other components of the kosovo financial system. the insurance sector has grown steadily and has shown sufficient ability to cover liabilities towards insurance policy holders. the pension sector has also shown satisfactory performance, where the value of contributions continues to increase, while careful asset management has enabled their value to increase overall. another important segment of our financial market continues to be microfinance institutions, which in recent years have accelerated the pace of credit growth, thus increasing their importance as an alternative source of credit financing in the kosovo economy. * * * the cbk has also played an important role in the establishment and development of other institutions important for kosovo's financial stability and economic development such as the deposit insurance fund of kosovo and the kosovo credit guarantee fund. * * * faqe 5 nga 7 i consider that all this that i have presented so far, presents a good basis for concluding that the central bank of the republic of kosovo has passed twenty successful years, during which it managed to transform into a modern institution and to develop a financial system capable of contributing to the prosperity and stability of the country's economy. however, we are aware that we have many more challenges ahead - challenges that other banks in the region are facing and beyond. business models and strategies of financial institutions are already changing with great dynamics, which requires an equally great dynamic for developing regulatory and supervisory capacities for financial institutions. regulatory reforms should enable the renewal or further development of financial intermediation, but at the same time must allow sufficient supervision and control over these institutions and activities they perform. however, i have full confidence that our capacities and excellent cooperation with other international central banks and financial institutions serve as a strong guarantee that the cbk will continue to be successful in the future against the challenges ahead. * * * faqe 6 nga 7 the central bank of the republic of kosovo has also changed its logo on this anniversary. the new cbk logo visually reflects its activities, values and attributes for better representation. the visual elements of the new logo give the cbk a unique identity. within itself, the new symbol has

dear teachers, dear students, dear guests, welcome to the central bank of the republic of kosovo. i am very honored to mark world savings day with you today. this day is a very important day for the financial system and now its marking has become a tradition in the cbk. this day, which was first marked in 1924 at the international savings banks congress in milan, italy, is now celebrated worldwide by organizing various activities aimed at cultivating culture and developing savings habits. we begin to learn the habits and culture of saving from childhood. the most common phrase we hear from an early age is a saved euro is an earned euro. this phrase best demonstrates the importance of savings. savings help us achieve our dreams and goals. on the importance of savings, i would like to quote one of the most successful investors, warren buffet, who said “ do not save what is left after spending ; instead spend what is left after saving ”. cbk, within the framework of its financial education program, organized a competition for kosovo elementary school students in grades 6 - 9 to participate in the competition for the selection of the best essay on savings and finance under the motto “ savings for a better future ”. this competition was very creative, had a lot of good essays and the commission had a lot of hard work in selecting the winner. i can say that there were no losers in this competition. all the essays were very good and i have the honor of today awarding the most distinguished awards. by participating in this competition you have honored the cbk and i promise that we will be with you in the future as well by organizing other activities. i hope this competition has helped you to better understand the importance of finances and savings and i believe that some of you are already dreaming of this profession and you may be part of the cbk or other financial institutions in the future. dear students, i wish you great results in school, which i believe will be very easy with the help of your excellent teachers