Governor Ismaili at the Conference “The Age of Artificial Intelligence” discussing the challenges and opportunities brought by technology in the financial sector

The Central Bank of the Republic of Kosovo (CBK) participated in the conference titled "The Age of Artificial Intelligence: Technology as a Tool, Values as a Mission", organized by the Society of Certified Accountants and Auditors of Kosovo (SCAAK).

In his speech, the Governor of the CBK, Mr. Ahmet Ismaili, praised the conference as an important initiative to discuss the challenges and opportunities that technology brings to the financial sector. Alongside the opportunities offered by Artificial Intelligence, he emphasized that it also requires increased attention to ethics, data protection, and professional integrity. The use of AI without adequate controls and supervision may pose risks to the stability of the financial system. These risks are related to the integration of AI into the core functions of institutions, technological developments in generative models, and dependence on a limited number of infrastructure and equipment providers.

To address these challenges, Governor Ismaili highlighted that the CBK has advanced its regulatory framework through the Regulation on Information Systems and Cyber Risk Management, while also strengthening supervisory capacities to ensure the sustainable and secure use of advanced technologies, preserving financial stability, public trust, and system integrity. In addition, the CBK has adopted the Cybersecurity Strategy for the period 2025-2028, which aligns with the objectives of the CBK's Strategic Plan to establish a regulatory and supervisory framework that addresses cyber risks and strengthens the institution's operational capacities.

On a global level, Governor Ismaili noted that, according to studies by the European Central Bank, the Basel Committee, and the Financial Stability Board, artificial intelligence is profoundly transforming the financial system. Joint findings show that AI enhances analysis and decision-making, increases efficiency in banking services, and supports risk monitoring. However, it also requires strengthening the regulatory, supervisory, and data management frameworks to ensure its safe and sustainable use in the financial sector.

The Governor of the CBK emphasized that the use of AI must be accompanied by strong governance, appropriate controls, and professional ethics, while the role of accountants and auditors remains crucial in maintaining independence and ethical standards. He underlined that human judgment cannot be replaced but should be intertwined with the transformative potential of technology to build a more resilient, innovative, and trustworthy financial system.

The conference, which gathered leaders from the Tax Administration, the National Audit Office, the Financial Intelligence Unit, and other public institutions, as well as representatives from universities, accountants, auditors, financial institutions, and international experts, provided a platform for open dialogue, enabling the exchange of experiences and discussion of best practices in the use of Artificial Intelligence.

The CBK remains committed to modernizing its legal framework and infrastructural capacities, advancing innovation and technology in the financial sector, in line with its Strategic Plan and in cooperation with domestic and international partners.