generating a positive financial result. cbk remains committed to continue its activity in the service of the stability and development of the country's economy, creating the conditions for the development of a stable financial infrastructure, in line with contemporary developments in this field, including the development of new segments of the financial system such as the capital market, which requires extensive inter - institutional cooperation. also, this year, as you know, the republic of kosovo won the international arbitration against the financial institution iute credit. this case clearly proves that the cbk has been and remains confident in the legality of its decisions, not only in relation to this institution, but in relation to every institution that carries out financial activity in the country. during the last years, 14 licenses / registrations of financial institutions were revoked and all the cases in the courts had a positive outcome for the cbk. hoping and believing that the coming year will be a more positive year in all aspects, i wish you and your families lots of health, joy and success. dear representatives of the media, finally let me inform you that cbk within its general function from the field of financial education, as a separate component and with the aim of promoting research in the field of economics among young people of kosovo, shares the traditional award for " young economists " every year. this year, the theme of the competition for the award " young economist " was : " the impact of inflation on european and kosovo trade " the professional committee has evaluated three best papers by young researchers. i invite the student njomza jupa from " haxhi zeka " university in peja i invite the student anisa « murseli from " yale university " in the usa i invite the student rozafa hajdari from " haxhi zeka " university in peja. 5 / 5 bis - central bankers'speeches

##2 was 66. 4 million euros with an annual increase of 8. 7 percent. the gross premiums written by insurance companies until september 2022 marked the value of 98. 2 million euros or an annual increase of 13. 0 percent, while the gross paid claims marked the value of over 42 million euros or an annual increase of over 25 percent. even the pension sector during this year was characterized by growth, compared to the previous year. the total value of pension sector assets in september 2022 reached 2. 3 billion euros compared to 2. 2 billion in september 2021, which corresponds to an annual increase of 4. 2 percent. the pension sector until september 2022, due to the unfavourable conditions in the international financial markets, recorded a poor financial performance, marking a negative return on investments in the amount of about 170 million euros. the new pension contributions during this period marked the value of around 177. 5 million euros. as for the sector of microfinance institutions and non - banking financial institutions, until october 2022, the assets of this sector reached the value of 386. 1 million euros, marking an annual increase of 12. 6 percent. in total, the active loans of this sector in october reached the value of 276 million euros, or an annual increase of 18. 4 percent. the average interest rate on new loans issued by microfinance institutions in october was 19. 0 percent, which in the same period last year was 20. 6 percent. even in this sector, the good quality of the credit portfolio is assessed with a rate of nonperforming loans of 2. 9 percent. cbk has continued its commitment also in the function of protecting the rights of consumers of financial services, thus directly serving the protection of citizens'interests. until november of this year, the number of complaints reviewed by the cbk reached 810 complaints. the cbk's commitment to protecting the rights of consumers of financial services, either through financial education programs or through corrective measures against financial institutions, has been and will remain a priority of the cbk in the coming years. 4 / 5 bis - central bankers'speeches as far as internal developments are concerned, cbk has also continued during 2022 with the advancement and development of its professional capacities in all areas of its operation. despite the created situation and not very favourable conditions in the international markets, the central bank of the republic of kosovo has managed to maintain its financial stability and good performance of the institution,