ahmet ismaili : cybersecurity in the banking industry speech by mr ahmet ismaili, governor of the central bank of the republic of kosovo, at the conference " cybersecurity in the banking industry ", co - organised by the kosovo banking association and the albanian association of banks, pristina, 25 october 2023. * * * dear mr balija, chief executive officer of the kosovo banking association dear mr brumbulli, secretary general of the albanian association of banks dear mr bakkal, chairman of the board of directors of the kosovo banking association dear, mrs hoxha, senior investment officer at finance in motion ( efse ) dear members of bank associations dear board members dear panellists and attendees i am pleased to greet and welcome you all to the " cybersecurity in the banking industry " conference, co - organized by the kosovo banking association and the albanian association of banks. the very fact that we have co - organization shows the excellent cooperation between the banking sectors of our two countries, but also the approach to the common challenge, which knows no borders. therefore, my participation here today also aims to convey such a message of coordination and joint efforts to address these risks, as one of the most complex challenges of the time for the financial industry and beyond. we are witnessing the time that the financial system is changing quite quickly and is being transformed. digitization on the one hand has influenced the improvement of access to services as well as their quality, which means that in the field of payments, services are being carried out continuously and are available worldwide. but, on the other hand, the main risks related to the introduction of information technology that enables banking and financial services have increased and constitute a threat to be handled with care. they include strategic and reputational risk, operational risk, cyber risk and compliance risk. the cyber threat continues to evolve and become more complex amid continued digitization, increased third - party dependencies, and geopolitical tensions. the rapid pace of technological advancement imposes the need for continuous monitoring of emerging trends and their possible impacts on the operations of financial institutions. 1 / 3 bis - central bankers'speeches therefore, strengthening cyber security in the financial sector is a priority for financial stability, and not only that. its influence extends to national security. the republic of kosovo, through the national security strategy, has determined the responsibilities and duties of the institutions for cyber security and critical infrastructure, from the coordination of legal and strategic

through investor's screening mechanism, given the current geostrategic risks. finally, we remind you that addressing cyber risks requires close cooperation between different authorities, with an emphasis on the state authorities responsible for cyber security at the state level. the cbk remains committed to coordinating and sharing information with other regulators, relevant public authorities such as those for data protection, consumer protection, competition and national security institutions. at the same time, also in the international aspect, with international institutions, regulators of the countries of the region, other institutions, with the aim of coordination and a more stable platform to successfully face these risks and achieve our objectives. we wish you fruitful discussions in the following panels, and we welcome the recommendations resulting from these professional discussions. thank you! 3 / 3 bis - central bankers'speeches