, financial 1 / 2 bis - central bankers'speeches institutions and non - banking financial institutions, decided to revoke the registration and initiate liquidation procedures for the microfinance institution " iute credit kosovo " j. s. c. cbk has been and remains confident in the legality and proportionality of the decisions, in relation to this institution and all the decisions issued by its executive bodies. the institution in question, in accordance with their legal right, had initiated a claim before the international arbitration, to dispute the legality of the decision of the executive board of the cbk. cbk thanks the government of the republic of kosovo for initiating the allocation of funds for the defence of the republic of kosovo during the arbitration. the cbk also thanks the ministry of justice and the state bar for establishing direct contact between the cbk and the defence firm for the republic of kosovo. from the beginning, i appointed the former deputy governor sokol havolli as the bearer of this process, who, in cooperation with his subordinates, successfully carried out every phase in defence of the republic of kosovo, being also the key witness at the arbitration. also, i seize the opportunity to congratulate all the other employees at cbk who have been on top of their duties throughout the entire work and defence process. our faith in the professionalism of the employees at cbk has never wavered. as a result of all this commitment and a professional process by the central bank of the republic of kosovo, we have managed to have an epilogue 100 % in favour of the country. as the bearer of all responsibilities within the institution i lead, i feel happy with this result and with all the results achieved over the years. as important as the result is the fact that the costs associated with this process will be borne by the claimant. i feel special pride that i have managed to protect the state, the citizens, the institution, and financial stability throughout this time, in cooperation with all my colleagues at the cbk. at different times, we have faced challenges and orchestrated attacks from both inside and outside, which were intended to damage the processes of cbk but also my reputation, the reputation of cbk and that of the republic of kosovo. in some cases, they have made me feel bad. but i have never felt that i am not following the law. finally, let me inform you that the central bank of the republic of kosovo is committed to creating conditions for increasing healthy competition in our

from the perspective of banks and non - banking financial institutions and requires close cooperation and coordination. but, allow me to announce some activities that cbk has undertaken in order to develop the payment system : participation in high - level meetings at the european central bank ( ecb ) in frankfurt, with the governors and deputy governors of the six countries of the western balkans, regarding the integration into the european system of central banks, namely the sepa payment scheme and the instant payment system tips, where the ecb, within the framework of supporting the eu project for the modernization of payment systems of the western balkan countries and the objectives of the g20, supports concrete initiatives such as the interconnection of payment systems and the inclusion of our region in the european union systems and is continuously in touch for further developments. it has changed the organizational structure where, in addition to the analysis and oversight of the payment systems division, the ip and ipe has been added to the mfis / nbfis supervision division, the it systems supervision division has been established, within the credit registry division was added the bank accounts registry, as well as the department of consumer protection was established where, in addition to the financial services consumers complaints division, the market conduct supervision division was also established. it has proceeded further with the draft law on banks, already in public consultation, which, together with other laws, will complete the financial ecosystem in a complementary way. the draft law on payment services is in the process of finalizition, in compliance with eu directives such as psd2 ( payment services directive 2 ), emd ( e - money directive ), pad ( payment account directive ), and interchange fees. it is in the process of building infrastructural capacity and human resources to ensure that systems, equipment, knowledge, skills and personnel tools remain relevant and effective in overseeing the risks of new technologies and innovative business models. also, financial institutions licensed by the cbk, in order to advance the payment system and increase the quality and efficiency of payment services for their customers, are encouraged to : invest in infrastructure and build human capacity ; advance risk management policies, procedures and processes ; address cyber risks through close cooperation with the cbk and state authorities responsible for cyber security at the state level. 3 / 4 bis - central bankers'speeches financial education will be the focus of the cbk, alongside the advancement of market practices and consumer protection. therefore, campaigns will be organized and supported for the financial