CBK participates in the Regional Conference for Board Members of Central Banks

The Deputy Governor for Banking Operations, Mr. Dardan Fusha, and the non-executive member of the Board of the Central Bank of the Republic of Kosovo (CBK), Mr. Nexhat Kryeziu, represented the CBK at the Regional Conference on “Promoting Governance, Risk Management, and Communication of Central Banks in a Changing Environment” organized by the National Bank of Moldova (NBM), the International Monetary Fund (IMF), and the Center for Financial Excellence (CEF).

The conference, held in Chisinau, Moldova, brought together executive and non-executive board members and senior central bankers from Southeast Europe to discuss the governance, risk management and communication challenges facing central banks in the current changing environment.

Deputy Governor Fusha and Board Member Mr. Kryeziu, presented the reforms that the CBK is undertaking to strengthen its governance, during the two panels that focused on the roles and responsibilities of the Executive Board members and the CBK Board. They shared with the participants Kosovo’s dual board model, as well as the recent developments related to strengthening board oversight and the roles, responsibilities, and checks and balances between the two boards, and offered their experiences and perspectives to the participants. The CBK is undertaking these reforms with the support of the IMF, as part of the implementation of recommendations from the recent IMF and the World Bank assessments.

The discussions emphasized the importance of independence, transparency, professionalism and integrity of board members for effective central bank governance. Attention was also drawn to the need to clarify the roles of the supervisory and executive boards to ensure effective oversight and the achievement of the CBK’s objectives. Furthermore, the importance of risk management and adopting an organizational culture that promotes open communication and transparency, both within the institution and with all relevant stakeholders, including regional and international cooperation, was also highlighted.

The two-day conference (17-18 September 2024) provided a valuable opportunity for central bank leaders and senior representatives to exchange ideas and experiences on governance, risk management, and communication as three of the fundamental pillars of central banking.