The workshop emphasized the critical role of governance and communication practices within central banks, as highlighted by Mr. Victor Lipet, one of the lecturers. He stressed that effective governance is essential for central banks to function with integrity, accountability, and transparency, which are crucial for maintaining public trust and economic stability. Mr. Lipet pointed out that robust governance frameworks are vital for central banks to navigate complex economic conditions and policy challenges. They establish clear procedures and decision-making processes, fostering consistency and confidence in monetary policy actions. Without strong governance, central banks could risk making decisions that may lead to financial instability or damage their credibility, ultimately impacting the broader economy.

The workshop's focus on governance and communication attracted several participants who were eager to enhance their institutions' practices. Mr. Mahmoud Albdour from the Central Bank of Jordan viewed the event as a valuable opportunity to learn about effective governance and communication strategies from peers and experts. Similarly, Ms. Sonja Madjovska from the National Bank of North Macedonia was interested in exploring new approaches to improve internal communication mechanisms within her organization.

The most significant takeaway for many was the emphasis on transparent and effective communication in governance. Ms. Jona Kuka from the Bank of Albania highlighted the importance of exploring new opportunities and not being discouraged when initial efforts are unsuccessful. This reinforced her intention to pursue different paths within her organization. Mr. Albdour noted that transparent communication is crucial for managing stakeholder relationships and ensuring well-informed decision-making processes. This focus on transparent and efficient internal communication channels is essential for smoothly executing monetary policies and maintaining operational efficiency. “Moreover, effective internal communication fosters a culture of collaboration and accountability, where empowered to contribute to the institution’s goals, and build trust. By prioritizing internal communication, central banks can enhance their agility and responsiveness, crucial in an increasingly complex and dynamic financial environment,” noted Mr. Lipet.

Participants expressed a strong intention to apply the knowledge gained from the workshop in their daily work. Ms. Kuka mentioned the need to invigorate communication within her team, moving away from a dormant and uninspired environment. Mr. Albdour plans to implement more structured communication protocols and foster an open dialogue culture in his organization. This was echoed also by Sonja Madjovska, who felt inspired to strengthen team spirit and personal integrity within her organization. Others, such as Ms. Nevena Jerak Muravec from the Croatian National Bank found the workshop inspiring and noted that it broadened her perception and perspective on communication within her role. She appreciated the structured and concise nature of the sessions, which provided actionable insights for her daily work.

The interactive breakout sessions were particularly appreciated, providing a platform for in-depth discussions and collaboration across different central banks. These sessions allowed participants to share diverse perspectives and approaches to common challenges, which was a unique and valuable aspect of the workshop, as noted by Mr. Albdour and other participants. Ms. Madjovska praised the presentations by speakers like Samo Trtnik, Ashraf Khan, and others for their inspiring content. Ms. Jerak Muravec also pointed to the workshop's excellent organization and positive energy, led by the CEF team.

The workshop provided an excellent networking opportunity, with participants interacting with professionals from across the Balkans and the Middle East. This diverse gathering allowed for the exchange of ideas not just on professional topics but also on personal interests. Ms. Kuka, for instance, enjoyed connecting with colleagues who shared interests in activities like running and marathons.

Overall, the workshop was a resounding success, facilitating knowledge-sharing and encouraging participants to reflect on their communication strategies and governance practices. As Mr. Lipet put it: “Together, robust governance and internal communication form the backbone of a central bank's ability to perform its functions effectively and maintain financial stability.” and reconfirmed the importance of these topics.