The Central Bank of the Republic of Kosovo (BQK) used a conference on the “Age of Artificial Intelligence” to set out its view that wider adoption of artificial intelligence in the financial sector must be accompanied by stronger governance, ethics, data protection and supervisory controls to avoid risks to financial stability. Governor Ahmet Ismaili highlighted risks linked to integrating AI into core institutional functions, advances in generative models, and dependence on a limited number of infrastructure and equipment providers. He pointed to the BQK’s Regulation on Information Systems and Cyber Risk Management and the adoption of a Cybersecurity Strategy for 2025–2028, which is aligned with the central bank’s strategic plan objectives for a regulatory and supervisory framework addressing cyber risks and strengthening operational capacities. The speech also referenced studies by the European Central Bank, the Basel Committee and the Financial Stability Board that find AI can improve analytics, decision-making, banking service efficiency and risk monitoring, while increasing the need for stronger regulation, supervision and data management, and underscored the continuing role of accountants and auditors in upholding independence and ethical standards.
Central Bank of the Republic of Kosovo 2025-11-10
Central Bank of the Republic of Kosovo Governor outlines AI risk controls and points to the 2025–2028 Cybersecurity Strategy and cyber risk regulation
The Central Bank of the Republic of Kosovo stressed the need for stronger governance, ethics, data protection, and supervisory controls as AI adoption grows in the financial sector. Governor Ahmet Ismaili highlighted AI-related risks and noted the bank's Regulation on Information Systems and Cyber Risk Management and its Cybersecurity Strategy for 2025–2028. The speech referenced studies on AI's potential to enhance analytics and decision-making, emphasizing regulation and the role of accountants and auditors in maintaining ethical standards.