With the motto “Take care of your money, secure your future”, the 12th edition of the Global Money Week organized by the Central Bank of Kosovo is being held this year.
Through the various activities that are being carried out in the framework of financial education, this initiative aims to inform citizens from an early age and gradually acquire the knowledge, skills, attitudes and behaviors necessary to make sound financial decisions and to achieve well-being and financial stability.
At the conference “Access to finance for women entrepreneurs”, a joint activity of CBK-AMIK, the deputy governor for general functions at the Central Bank of Kosovo, Nesrin Shileku-Shala, said that the commitment of the Central Bank of the Republic of Kosovo in the financial inclusion of women entrepreneurs is not only an objective, but is an investment in the future.
Shileku-Shala emphasized that with a multifaceted approach to financial inclusion, the CBK is contributing to a brighter economic future for the citizens of the Republic of Kosovo.
“The Central Bank of the Republic of Kosovo, within its constitutional and legal mandate, and through its strategy, is committed to advancing the regulatory framework and supervisory infrastructure in order to harmonize with the legislation and policies of the European Union and support initiatives that increase access to finance and sustainability”, said Shileku-Shala.
Speaking about the importance of women entrepreneurs, Shileku-Shala emphasized that achieving financial inclusion and access to finance for women requires a collective effort. While she underlined that the contribution of financial sector institutions should be greater in the education of women.
“Women entrepreneurs need more training and activities in this direction from the actors of the financial sector and beyond. The contribution of financial sector institutions should be greater in educating women in terms of education and training for services and opportunities that would increase the respective portfolios of financial institutions, and would contribute positively to the overall financial health of the sector”, she said.
Speaking about addressing the challenges and obstacles that women entrepreneurs face with their businesses, she said that CBK through Financial Education programs will contribute to their information and education.
“This is in line with the 5th objective of the CBK Strategic Plan. The fact that CBK is now represented by women on both the CBK board and the executive board signifies CBK’s commitment not only to advocate for women’s financial inclusion, but also to lead by example. Currently, CBK has a total of 225 workers, of which 122 are women”, said Shileku-Sjala.
In the end, Deputy Governor Shileku-Shala said that the CBK will dedicate itself to collecting and publishing gender-disaggregated data on access to finance, data that will provide valuable insights into the specific challenges faced by women entrepreneurs in the Republic of Kosovo.
The Chairman of the Board of the Association of Microfinance Institutions of Kosovo (AMIK), Shpend Nura, said that although progress has been made in recent years, women still face significant obstacles when it comes to accessing financial services, for which he said that efforts should be increased to ensure that all women have equal opportunities to act as entrepreneurs.
“Women’s economic empowerment is not only a moral imperative; it is also a strategic investment in the sustainable development and growth of our communities and economies. However, although progress has been made in recent years, women still face significant obstacles when it comes to access to financial services. Our microfinance institutions have emerged as a powerful catalyst in addressing this issue. By offering financial products adapted to the needs of female entrepreneurs, microfinance institutions play an important role in unlocking their potential and fostering economic independence… Through small loans our institutions empower women to start and expand their businesses, create employment opportunities and contribute to the overall prosperity of our communities… We must also know that there is still much work to be done, we must increase our efforts to ensure that all women have equal opportunities to act as entrepreneurs”, said Nura.
To mark this event, CBK has organized various activities throughout the week. Initially, the week began with the signing of a memorandum of understanding between the CBK, the Association of Kosovo Banks, the Association of Microfinance Institutions of Kosovo, and the Kosovo Insurance Bureau, through which the Council for Financial Education was established, the purpose of which will be the coordination for the advancement of financial knowledge in the country.
The week also continued with the advancement of another cooperation, with the signing of the memorandum of understanding with the University of Prishtina “Hasan Prishtina”, with the Faculty of Economics in order to contribute to the improvement of economic and financial knowledge and cooperation for joint projects in the field of economy, finance, and financial education.
Meanwhile, the week ends with a series of lectures with students in some of the primary and secondary schools in the country.
We recall that the Global Money Week is an annual global awareness campaign, organized by the Organization for Economic Co-operation and Development (OECD). /E.Krasniqi/
