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Opening Remarks
Gordana Dimitrieska Kochoska
Minister of Finance (TBC) (TBC)
Bujare Abazi
President of the Securities and Exchange Commission
Ivan Shteriev
CEO, Macedonian Stock Exchange
Special Addresses
Small Market, Big opportunity: How they can drive economic growth
Patrick Young, International Financial Markets Expert, Exchange Development Strategist and Author
Experiences from a Macedonian Blue-Chip Company
Zhivko Mukaetov, CEO, Alkaloid Skopje
Ivan Shteriev, CEO, Macedonian Stock Exchange
Coffee Break
Leading Banks Through Global Change
Fatih Şahbaz, CEO, Halk Banka Skopje
A Comparative View of Regional Capital Markets
Mihael Blažeković, Chief Analyst, Bloomberg Adria
Special Individual Investment Pension Accounts and Their Impact on the Capital Market
Marko Bombač, CEO, Ljubljana Stock Exchange
Long-Term Capital in Support of Long-Term Industrial Development
Tatjana Bojkovska, Member of the Management Board, Sava Pension Company Skopje
Marija Dukovska-Pavlovska, CEO, Makstil Skopje
Moderator: Marjan Petreski, Professor, Faculty of Business Economics and Organizational Sciences, University American College Skopje
Lunch Break
The Road to a Successful IPO – Experiences and Key Lessons
Ivan Augustin, Member of the Board of Directors, ING-GRAD Zagreb
Experiences and Challenges in Financing Renewable Energy and Battery Energy Storage System (BESS) Projects in North Macedonia
Viktor Delov, Senior Regional Relationship Manager, Danske Commodities
Panel 1: Do Macedonian Companies Want Capital: The MSE–EBRD Project for Promoting Market-Based Financing
Maja Stolevska Kostadinova, Head of the National Business Advisory Programme, EBRD
Slaven Kartelo, SEE Partner for Capital Markets and Accounting advisory, PwC Croatia
Robin Zimbakov, Owner, Soloprom Skopje
Nina Mojsova Kjoseva, Director of Finance, Iute Macedonia
Moderator: Karolina Karovska Bozhinoska, Department Director, Macedonian Stock Exchange
Panel 2: Alternative Sources of Financing – Experiences and Perspectives
Vladimir Peshevski, Economic Advisor to the Prime Minister, Government of the Republic of North Macedonia
Dejan Kalinikov, CEO, SPMG Capital
Igor Cicak – Founder and CEO, Provectus Capital Partners
Rok Habinc, Pan-Adria Partners
Moderator: Ivan Mishev, PwC North Macedonia
Digital Assets and Tokenization: Transforming Investment Markets
Jai Waterman, CEO, Blockstation
Presentation: AI and Financial Markets
Filip Petrovski, CEO, Data Masters
Fireside Chat “AI and Financial Markets”
Dr. Petre Lameski, Dean, Faculty of Computer Science and Engineering (FINKI)
Dr. Kiril Jovanovski, Full Professor, Faculty of Economics – Skopje
Opening Remarks
Gordana Dimitrieska Kochoska
Minister of Finance (TBC)
Gordana Dimitrieska – Kochoska is a Master of Economic Science. In 2006, she graduated top of her class in macroeconomics at the Faculty of Economics within “Ss. Cyril and Methodius” University.
Dimitrieska – Kochoska’ education has been expanded by a number of specializations in the field of finance and controlling, acquiring a number of certificates under various programs such as: One-year Controlling Academy carried out by the Management Center Belgrade, licensed by CA AKADEMIE AG, Munich, One-year Certified Accounting Analyst conducted by ABIT Academy Skopje. She has also attended the following trainings and seminars: “Developing and Turning the Professional and Personal Managers’ Skills from Potential into Talent” organized by the Croatian Psychological Association, “Kaizen Foundation”, “CAPEX Analysis”, “Cash Flow Analyses”, “Analysis of Financial Statements”, all of them being organized by the Management Center Belgrade, while also actively participating in diverse congresses.
She has extensive career backgrounds in the field of financial consulting and corporate banking. In 2006, she was hired by Makedonski Telecom, holding a post in the Tax Department, in the period 2006-2007, she was part of MoF’s Cabinet, more precisely the Public Debt Department, in the period 2007 – 2014, she used to work in the Corporate Banking Department at Stopanska Banka, in the period 2014 – 2017, she was a member of the Board of Directors, as well as Chief Finance Officer in “AD Elektrani na Makedonija”, in the period 2018 – 2020, she was hired as financial consultant in the field of controlling, finance and taxes in KFK DOOEL, whereby as of 2020 up to 2024, she was rehired at the same position therein.
In 2020, Dimitrieska-Kochoska was elected as Additional Deputy Minister of Finance as part of the Caretaker Government of the Republic of Macedonia. Dimitrieska-Kochoska is, in addition to her native Macedonian language, fluent in English and Spanish. She is married with two children.
In addition to her native Macedonian, Dimitrieska-Kochoska speaks English and Spanish. She is married and has two children.
Bujare Abazi
President of the Securities and Exchange Commission
M-r Bujare Abazi was elected President of the Securities and Exchange Commission of the Republic of North Macedonia on May 20th, 2025 by the Parliament of the Republic of North Macedonia.
M-r Bujare Abazi received her education at the University of Zagreb and the State University of Tetovo, where she earned the title of Master of Economics and Traffic Engineer-Postal Technology.
From 2000 until her election as President, she has been professionally engaged in "Post of North Macedonia" JSC Skopje in several positions where, with her expertise and experience, she performs the most responsible tasks and makes a significant contribution to improving the quality of services, internal control, and corporate governance of the institution. In March 2023, M-r Abazi was appointed General Director of the Company, and she holds the position until February 2024.
She has extensive experience in solving complex problems, managing human resources and in decision-making processes, for which she has attended many trainings and seminars during her professional development, for which she also holds certificates.
M-r Abazi, in addition to the Albanian and Macedonian languages, actively uses the English and Croatian languages.
Ivan Shteriev
CEO, Macedonian Stock Exchange
Mr. Ivan Shteriev has been the CEO of the Macedonian Stock Exchange Inc. Skopje since 2005. He participated in the team responsible for setting up the stock exchange in the Republic of Macedonia in 1996 and has been working at the MSE since its foundation, first as a Floor manager and then as a Director of Trading Department until 2005.
He participated in numerous working groups responsible for drafting laws and regulations related to the domestic securities industry. He was also a member of the Board of the Macedonian Central Securities Depository and Commissioner at Macedonian Security & Exchange Commission. Mr. Ivan Shteriev is also member of the Supervisory Board of SEE Link (SEE link is a project started by Bulgaria, Macedonia and Zagreb stock exchanges with the objective of creating a regional infrastructure for trading of securities listed on those three markets. The project is supported by the European Bank for Reconstruction and Development).
He participated as speaker and presenter of numerous domestic and international conferences on topics related with the functioning of the securities markets.
Special Addresses
Patrick Young
International Financial Markets Expert, Exchange Development Strategist and Author
Former exchange CEO Patrick L Young is a leading thinker in financial markets who wrote the first bestselling book of fintech, “Capital Market Revolution!” (FT 1999).
Patrick ran the Transylvanian exchange SIBEX and has been a director of block equity trading platform, Liquidnet. He is a former Chairman of the Global Financial Centres Conference and Blockchain Malta.
Patrick champions the bourse business in this, “the age of the Exchange” via “Exchange Invest” his daily newsletter read by the key players throughout Young’s Pyramid of markets (ExchangeInvest.com).
Today, he works as an adviser on market structures and financial centres, with a particular focus on developing new exchanges and capital markets. He is especially committed to advancing smaller exchanges, where he sees significant potential for creating value by closely connecting them with the real economy. His articles and analyses have been published in leading international media, including the Australian Financial Review, Börsen-Zeitung, Financial Times and The Wall Street Journal.
Overview of Future Global Market Trends
Blaž Hribar
Member of the Management Board, Pokojninska družba A, Slovenia
Blaž Hribar has been a member of the Management Board of Pokojninska družba A since 2015, where he is responsible for investment management. Previously, he headed the analysis department at NLB Skladi and has nearly two decades of experience in asset management. He is also the author of numerous articles and other professional contributions in this field.
“Experiences from a Macedonian Blue-Chip Company”
Zhivko Mukaetov
CEO, Alkaloid Skopje
Ivan Shteriev
CEO, Macedonian Stock Exchange
Mr. Ivan Shteriev has been the CEO of the Macedonian Stock Exchange Inc. Skopje since 2005. He participated in the team responsible for setting up the stock exchange in the Republic of Macedonia in 1996 and has been working at the MSE since its foundation, first as a Floor manager and then as a Director of Trading Department until 2005.
He participated in numerous working groups responsible for drafting laws and regulations related to the domestic securities industry. He was also a member of the Board of the Macedonian Central Securities Depository and Commissioner at Macedonian Security & Exchange Commission. Mr. Ivan Shteriev is also member of the Supervisory Board of SEE Link (SEE link is a project started by Bulgaria, Macedonia and Zagreb stock exchanges with the objective of creating a regional infrastructure for trading of securities listed on those three markets. The project is supported by the European Bank for Reconstruction and Development).
He participated as speaker and presenter of numerous domestic and international conferences on topics related with the functioning of the securities markets.
Leading Banks Through Global Change
Fatih Şahbaz
CEO, Halk Banka Skopje
He was born in 1981 in Sorgun, Yozgat. He graduated from the Department of Economics at the Faculty of Economics and Administrative Sciences of Selçuk University and from the Faculty of Law of Doğuş University. He completed his master’s degree in Economics at the Institute of Social Sciences of Marmara University and earned his PhD in Political Science and Public Administration at Istanbul Medeniyet University.
At Türkiye Halk Bankası A.Ş., he held positions as a banking officer, internal controller, department manager, branch manager, division director and group chairman. As of 22 November 2022, he also served as Deputy General Manager in charge of Support Services and Human Resources.
Mr. Şahbaz has been a member of the Supervisory Board of Halkbank A.D. Skopje since 27 July 2020, and on 16 December 2025 he was appointed Chief Executive Officer of Halkbank A.D. Skopje.
A Comparative View of Regional Capital Markets
Mihael Blažeković
Chief Analyst, Bloomberg Adria
Mihael Blažeković is Chief Analyst at Bloomberg Adria, with many years of experience in macroeconomics and capital markets analysis, covering equities, bonds, commodities, and interest rates across regional and global markets. His work focuses primarily on monetary and fiscal policy analysis, as well as research across various industries. Through his reports and market commentary, he helps investors and the business community better understand complex economic and financial trends.
In addition to his career in finance, Mihael is also an entrepreneur in agriculture and adventure tourism as the owner of OPG Blažeković. His expertise and hands-on experience in the financial sector have established him as a recognized market analyst in the region.
Special Individual Investment Pension Accounts and Their Impact on the Capital Market
Marko Bombač
CEO, Ljubljana Stock Exchange
Marko Bombač, CFA, FRM, started his first mandate as President of the Management Board of the Ljubljana Stock Exchange on 1 September 2024. He started his career as a financial analyst at Factor Bank and then joined NLB Skladi, where he successfully held various positions, including Head of Research, for more than a decade. Since 2020 he has been Director of Risk Managment at the Bank of Slovenia. He has been an active member of several committees or working groups within the Eurosystem and beyond.
He started his career as a financial analyst at Factor Bank and then joined NLB Skladi, where he successfully held various positions, including Head of Research, for more than a decade. Since 2020, he has been Director of Risk Management at the Bank of Slovenia. He has been an active member of several committees and working groups within the Eurosystem and other international professional bodies.
Long-Term Capital in Support of Long-Term Industrial Development
Tatjana Bojkovska
Member of the Management Board, Sava Pension Company Skopje
Tatjana Bojkovska is a member of the Management Board at Sava pension company a.d. Skopje.
After spending seven years in the audit and banking industry, she became part of the fully funded pension insurance system in 2012, advancing to positions in the company’s Risk Management Department and Investment Department. Her expertise, experience and dedication led to her appointment as a member of the Management Board in 2023.
During the first year of her mandate, Sava pension company was honored with the prestigious "Best Small Pension Fund in Europe" award at the 2023 IPE Awards. Additionally, Sava Pension Company was shortlisted in the Equity category, further highlighting its prowess in investment management.
Tatjana holds the CFA (Chartered Financial Analyst), CAIA (Chartered Alternative Investment Analyst), and CIPM (Certificate in Investment Performance Measurement) certifications. She has also passed the professional exam for investment advising organized by the domestic Securities and Exchange Commission. Being member of the CFA Institute and CAIA Association, she regularly participates in volunteer activities organized by these professional associations.
Along with leading initiatives aimed at the further development of the company and the achievement of Sava Pension Company's strategic goals, Tatjana also initiates and contributes to activities designed to educate the public about the importance of supplementary pension savings in response to adverse demographic trends in the country."
Marija Dukovska-Pavlovska
CEO, Makstil Skopje
Marija Dukovska-Pavlovska is an Executive Member of the Board of Directors and General Manager of Makstil AD Skopje, a role she has held for the past five years. She brings extensive leadership experience across general management, human resources, and learning and development at a regional level. Her professional background spans the manufacturing sector primarily the electronics industry as well as the banking sector.
Marija has strong international experience gained through her work in the non-governmental sector, where she coordinated Human Resources and Finance for projects across Southeast Europe. In addition, she has served as an expert in Organizational and Financial Performance Improvement (FOPIP) for five water utilities in North Macedonia.
Prior to joining Makstil, Marija held senior leadership roles including Managing Director of an international company based in North Macedonia, as well as HR Director for Eastern Europe and Learning EMEA within the same organization.
She holds a Bachelor’s degree in Business Management from the Faculty of Economics at the University of Ss. Cyril and Methodius in Skopje, and a Master of Science in Economic Studies (Entrepreneurship) from Josip Juraj Strossmayer University in Osijek, Croatia. Her professional development includes leadership programs at Atlanta Tech University and FranklinCovey University, along with certifications as an NLP Trainer and Consultant and Mindset Map Coach.
With broad consultancy experience advising over 25 domestic companies and organizations, Marija is a passionate lifelong learner, certified coach, trainer, and facilitator of programs including SDI and FranklinCovey.
Marjan Petreski
Professor, Faculty of Business Economics and Organizational Sciences, University American College Skopje
Dr. Marjan Petreski is a Full Professor of Economics at the Faculty of Business Economics and Organizational Sciences at University American College Skopje. In addition to his academic role, he serves as Strategic Advisor to Finance Think – Economic Research and Policy Institute, Research Fellow at the Partnership for Economic Policy (Canada), and Visiting Professor at the Gdańsk University of Technology in Poland. He began his career at the Ministry of Finance and the National Bank and has built his academic and professional expertise in monetary economics, macroeconomics, financial markets, and economic policy.
As a co-founder of Finance Think, Dr. Petreski has contributed to numerous policy analyses and research projects that have supported the development of economic policies in North Macedonia. Throughout his career, he has worked as a consultant for the World Bank, the International Labour Organization (ILO), UNCTAD, UN Women, UNICEF, UNDP, the European Union, and other international organizations on projects across more than 30 countries.
Dr. Petreski is the author of more than 170 scientific publications, many of which have appeared in leading international economics journals. His research focuses on monetary policy, financial stability, labour markets, international trade, and development economics, and he is widely recognized as one of North Macedonia's most cited economists.
The Road to a Successful IPO – Experiences and Key Lessons
Ivan Augustin
Member of the Board of Directors, ING-GRAD Zagreb
Ivan Augustin is Chief Financial Officer at ING-GRAD, where he is responsible for the company's financial strategy, capital management, and long-term financial sustainability. He focuses on strengthening financial resilience, improving capital efficiency, and supporting the successful execution of complex infrastructure and construction projects through sound financial management and corporate governance.
Before joining ING-GRAD, Ivan built extensive experience in banking and asset management, holding analytical and leadership positions at leading financial institutions, including Zagrebačka banka and Erste Mandatory and Voluntary Pension Funds Management Company. He has also served as a member of the Supervisory Board of Bluesun Hotels, further broadening his expertise in corporate governance and strategic financial management. His professional experience spans banking, institutional investing, and corporate finance, with a strong focus on sustainable value creation and disciplined financial leadership.
Experiences and Challenges in Financing Renewable Energy and Battery Energy Storage System (BESS) Projects in North Macedonia
Viktor Delov
Senior Regional Relationship Manager, Danske Commodities
Panel 1: Do Macedonian Companies Want Capital: The MSE–EBRD Project for Promoting Market-Based Financing
Maja Stolevska Kostadinova
Head of the National Business Advisory Programme, EBRD
Maja Stolevska Kostadinova is Principal and Regional Coordinator for International Advisory at the European Bank for Reconstruction and Development (EBRD), where she is focused on supporting impactful initiatives across the Western Balkans. With more than a decade of professional experience, she specializes in financial analysis, advisory services, and reporting, contributing to initiatives aimed at strengthening economic resilience and promoting sustainable development.
Her professional expertise is complemented by internationally recognized qualifications, including ACCA, Certified Internal Auditor, and a Certificate in ESG Investing. Through her work at EBRD, she supports businesses and institutions in navigating complex financial environments, improving their capabilities, and advancing sustainable growth in emerging markets.
Slaven Kartelo
SEE Partner for Capital Markets and Accounting advisory, PwC Croatia
Slaven Kartelo is a Partner at PwC Croatia and the SEE Partner for Capital Markets and Accounting Advisory, with more than 23 years of experience in audit, financial reporting, and advisory services. He advises clients on capital markets projects and leads the development of PwC’s audit and financial advisory services across Croatia and Southeast Europe.
Having joined PwC Croatia in 2002, Slaven has spent most of his career working with some of the largest companies and business groups in Croatia and the region. He has extensive expertise in International Financial Reporting Standards (IFRS), complex accounting matters, internal controls, and corporate reporting. He is also a member of ACCA, a Certified Auditor in Croatia, and a Certified Internal Auditor (CIA).
In recent years, Slaven has led PwC Croatia's ESG services, advising companies on implementing the EU Corporate Sustainability Reporting Directive (CSRD) and integrating sustainability into their business strategies. He is an active member of the Croatian Audit Chamber and regularly lectures at professional seminars and conferences, promoting best practices in financial reporting, governance, and capital markets.
Robin Zimbakov
Owner, Soloprom Skopje
Nina Mojsova Kjoseva
Director of Finance, Iute Macedonia
Nina Mojsova Kjoseva is Chief Financial Officer at Iute Macedonia, with more than 15 years of experience in financial management, strategic finance, asset and liability management, capital planning and funding strategy. She holds a PhD in Economics and Finance from the Krakow University of Economics, Poland. She is responsible for financial leadership, capital management, funding sources and financing strategy within Iute Macedonia. She is also the Co-Founder and CEO of the Balkan Economic Forum, a regional platform dedicated to economic development, financial stability and regional cooperation in the Western Balkans.
Karolina Karovska Bozhinoska
Department Director, Macedonian Stock Exchange
The Importance of Small Stock Exchanges in Developing Countries
Hüseyin Erkan
Former CEO of the Istanbul Stock Exchange and the World Federation of Exchanges
Hüseyin Erkan is a former Chief Executive Officer of the World Federation of Exchanges (WFE), which he led from 2012 to 2014. Previously, from 2007 to 2012, he served as President and Chief Executive Officer of the Istanbul Stock Exchange.
He began his education in England and earned bachelor’s and master’s degrees in economics and international finance from New York University’s Stern School of Business. He began his career in the private sector and has worked in capital markets since 1989.
He joined the Istanbul Stock Exchange in 1994, where he held various management positions, including Deputy Chief Executive Officer, until 2006. He served on the Board of Directors of Takasbank and was actively involved in numerous international initiatives, including IOSCO, WFE, FEAS, SECI and COMCEC, with a focus on capital market development and regional cooperation.
In 2012, he was appointed Chief Executive Officer of the WFE, leading the organization until 2014.
Hüseyin is married and has two children. He speaks English.
István Máté-Tóth
Deputy Chief Executive Officer, Budapest Stock Exchange, Hungary
Panel 2: Alternative Sources of Financing – Experiences and Perspectives
Vladimir Peshevski
Economic Advisor to the Prime Minister, Government of the Republic of North Macedonia
Vladimir Peshevski is an economic expert with more than three decades of professional experience in investment, strategic management, corporate finance, and economic policy. He began his career at the Macedonian Academy of Sciences and Arts, working on research projects related to energy and sustainable development, before gaining significant consulting experience through USAID-supported projects, advising more than 50 domestic companies.
In 1998, he became Managing Director of SEAF Macedonia, an international private equity fund focused on investing in and supporting the growth of private companies in the country. He later served as Managing Director and Partner at the SEAF South Balkan Fund. From 2009 to 2017, he served as Deputy Prime Minister in charge of economic affairs in the Government of the Republic of Macedonia, where he was involved in the development and implementation of economic policies and initiatives aimed at improving the business environment.
Vladimir Peshevski holds an MBA from the University of Sheffield, United Kingdom. Throughout his career, he has also been actively involved in various professional organizations and initiatives focused on competitiveness, entrepreneurship, and private sector development.
Dejan Kalinikov
CEO, SPMG Capital
Mr. Kalinikov has more than 10 years of experience in the investment sector, with a particular focus on private equity through the US-based investment fund SEAF, where he currently serves as Managing Director of SEAF Macedonia II. Between 2009 and 2011, he served as Chief Operating Officer and Member of the Board of Directors of the telecommunications operator One, as well as Chairman of the Board of Directors of One-to-One (formerly Germanos), both members of the Telekom Slovenije Group in North Macedonia. His extensive professional experience also includes positions at Lucent Technologies, Macedonian Business Center, and several companies operating in the IT sector in North Macedonia.
Throughout his career, Mr. Kalinikov has been actively involved in various business and professional organizations. He is Honorary Board Member of the American Chamber of Commerce in North Macedonia, where he previously also served as Chairman of the Board. He has also served as a member of the Listing Commission of the Macedonian Stock Exchange, the National Committee for Entrepreneurship and Innovation, and the working group responsible for developing the National Strategy for Information Society of the Republic of North Macedonia. He is currently a member of the Board of Directors of the Institute of Directors.
Igor Cicak
Founder and CEO, Provectus Capital Partners
Igor is overseeing the overall strategy and management of Provectus. Furthermore, as Chairman of the Investment Committee, he is leading the firm’s portfolio construction and is involved in setting the strategic direction for the various Provectus' investments.
Before founding Provectus, Igor was CEO of Provectus Capital, an M&A and specialized investment boutique focusing on SEE. Furthermore, he was the co-founder and Chairman of the Supervisory Board of Optimapharm, a leading European clinical research organization, sold in 2020 to a global PE firm. Before this, Igor held top executive and senior management positions with local & international banks and large corporates.
Igor graduated from the Faculty of Economics and Business in Zagreb, completed the GMP program in Vienna, and finished the Senior Executive Program at London Business School.
Rok Habinc
Pan-Adria Partners
Moderator: Ivan Mishev
PwC North Macedonia
Ivan is a legal expert with more than 15 years of experience in financial services regulation and corporate law in North Macedonia. He holds a Master of Laws (LL.M.) degree, has passed the judicial exam, and has been a member of the Macedonian Bar Association since 2013. Prior to joining Papazoski and Mishev Law Firm, he worked as Legal Counsel at the Macedonian Stock Exchange.
His expertise covers financial services regulations, including capital markets, securities, investment funds, banking, payment services, AML regulations and consumer protection in the financial sector. Ivan has participated in numerous projects related to the development and implementation of financial regulations, as well as M&A transactions, corporate restructuring, strategic investments and corporate governance initiatives. He currently serves as an independent non-executive member of the Board of Directors of the Macedonian Stock Exchange.
Presentation: AI and Financial Markets
Filip Petrovski
CEO, Data Masters
He is a professional with extensive experience in Data Architecture, Data Analysis and Modeling, Predictive Models, and Data Warehousing. His expertise covers the full lifecycle of Business Intelligence projects, from pre-sales activities and business analysis to data visualization and implementation in production environments.
Fireside Chat “AI and Financial Markets”
Dr. Petre Lameski
Dean, Faculty of Computer Science and Engineering (FINKI)
Born in 1985 in Kavadarci, he graduated from the Faculty of Electrical Engineering and Information Technologies at Ss. Cyril and Methodius University in Skopje in 2008, where he also obtained his master’s degree in 2010 with a thesis in the field of robotics. During his studies, he was recognized for his academic achievements and outstanding performance.
Dr. Kiril Jovanovski
Full Professor, Faculty of Economics – Skopje
Dr. Jovanovski is a Full Professor of Financial Markets and Institutions and Personal Finance at the Department of Finance of the Faculty of Economics. He graduated in Financial Management in 2005 and began his professional career at Stopanska Banka AD Skopje, followed by a position at Komercijalna Banka AD Skopje, where he gained valuable experience in corporate banking and lending activities.
In 2008, he started his academic career as a teaching assistant in finance-related courses and has since advanced to the position of Full Professor, with a particular focus on financial markets, banking, and personal finance. Throughout his career, he has actively participated in numerous seminars, workshops, summer schools, and professional events related to the field of finance.
Dr. Jovanovski has been actively involved in significant projects related to the financial sector and the development of the capital market in North Macedonia. During his professional career, he has served as a Member of the Board of Directors of the Central Securities Depository, the Deposit Insurance Fund, and the Macedonian Stock Exchange AD Skopje. Since 2018, he has also served as an external member of the Securities and Exchange Commission of the Republic of North Macedonia.
Digital Assets and Tokenization: Transforming Investment Markets
Jai Waterman
CEO, Blockstation
Jai is an experienced business and technology leader, currently serving as CEO at Blockstation. With over 22 years of experience in business optimization and 18 years building enterprise software. Jai is a dedicated advocate for the adoption of flexible turnkey solutions that provide efficiency, transparency, and unparalleled security to regulated institutions. Jai‘s forward-looking approach has resulted in groundbreaking innovations with the potential to revolutionize the financial industry. Blockstation’s development team has successfully deployed its technology to Stock Exchanges, Depositories, Financial Institutions, and Regulators, creating a unique Blockchain and digital assets space. Blockstation’s solution is the sole technology that can tokenize assets, place them on a stock exchange, and enable public access. His unwavering dedication to providing exceptional market-ready solutions has earned him a reputation as a trusted and respected leader. Prior to Blockstation, Jai founded — illions — an ERP cloud blockchain accounting company and invented Cross Company Automation, a process to automate internal and external data exchange across multiple independent organizations.
His forward-looking approach focuses on developing solutions with the potential to transform the financial industry. Blockstation’s development team has successfully deployed its technology to stock exchanges, depositories, financial institutions and regulators, creating an innovative ecosystem for blockchain technology and digital assets. Blockstation’s solution enables assets to be tokenized, listed on a stock exchange and made accessible to the wider public.
Prior to Blockstation, Jai founded illions, developing an ERP cloud blockchain accounting solution, and created the Cross Company Automation concept, a process for automating internal and external data exchange across multiple independent organizations. His dedication to practical and innovative technology solutions has established him as a recognized leader in financial technology.
Panel 4: Good Corporate Governance Practices – Regulation vs. Practice
Orde Gjorgjioski
Director of Legal and General Affairs, Vitaminka AD Prilep
Orde Gjorgjioski is Director of Legal and General Affairs at Vitaminka AD Prilep and Assistant Professor of Business Law at the International Slavic University. He holds two doctoral degrees, in law and management, and has published more than thirty scientific papers and two books. With more than 15 years of legal practice, including 12 years in a management position, he is active in both the academic and business communities.
Gjorgjioski is a member of numerous organizations and boards, including GS1 Macedonia, Pakomak, the Judo Federation, Rotary Club Prilep and the Association of Corporate Lawyers. He regularly participates as a panelist and lecturer at conferences on law, management and corporate governance, and his expertise has also been recognized through international initiatives and training, including study visits and professional training abroad.
Gorazd Popovski
Director of the Legal Affairs Department, Stopanska Banka Skopje
Gorazd Popovski is Director of the Legal Affairs Department at Stopanska Banka AD Skopje, where he is responsible for all legal matters. He currently also serves as President of the Legal Commission of the Macedonian Banking Association.
He has extensive legal experience, with particular expertise in banking law, commercial law, civil law, legal risk assessment and matters related to securing claims. He has significant experience managing and monitoring complex commercial cases of high financial value.
Gorazd Popovski regularly cooperates with international banks, particularly the National Bank of Greece (NBG), the dominant shareholder of Stopanska Banka AD Skopje. He has excellent research, written and oral communication skills.
Tihomir Kasapinov
ESG Coordinator, Management Systems and Project Management Manager, Tikves Winery
Tihomir Kasapinov currently works as ESG Coordinator and Manager for Management Systems and Project Management at Tikves Winery AD Kavadarci. He began his professional career in 2004 as a mechanical engineer and project manager at Tikves Winery AD Kavadarci. A graduate of the Faculty of Mechanical Engineering at Ss. Cyril and Methodius University in Skopje, he has completed project management and energy manager examinations and attended numerous domestic and international training programmes in corporate governance, sustainable development, management systems, high-performance team management and investment assessment. He coordinates and leads the team responsible for developing and achieving the company’s ESG strategy goals.
He has participated as a speaker and presenter at domestic conferences on sustainable development, ESG and corporate governance. He has also shared his practical and theoretical knowledge with students at several faculties and secondary schools through dual-education programmes.
Moderator: Zorica Asenova,
Chief Legal Adviser, Macedonian Stock Exchange
Zorica Asenova has worked as Legal Adviser at the Macedonian Stock Exchange AD Skopje since April 2018, after beginning and developing her professional career at the Securities and Exchange Commission of the Republic of North Macedonia in 2004. She holds bachelor’s and master’s degrees from the Iustinianus Primus Faculty of Law at Ss. Cyril and Methodius University in Skopje and has passed the bar examination, the securities operations examination and the investment advisory examination. She has attended numerous domestic and international training programmes and conferences in corporate governance, takeovers of joint-stock companies, issuance and trading of financial instruments, investment funds, administrative law, business law and financial law. Through her participation in working groups drafting capital-market legislation and preparing the National Programme for the Adoption of the EU Acquis, she has gained extensive knowledge of EU financial-services legislation and experience in its transposition into Macedonian law. She has shared her practical and theoretical knowledge with students and the wider professional community through numerous training sessions and conferences in the country and abroad.
- The conference will be held bilingually, in Macedonian and English.
- The organizer will provide simultaneous interpretation throughout the conference.
- The conference will be held at Hotel Metropol Ohrid.
Participation Fee
Conference participation fee: MKD 9,000 + VAT
The participation fee includes:
- conference participation, conference materials, lunch, coffee break and cocktail reception.
The participation fee does not include:
- accommodation, transport to Ohrid and other expenses.
Group Discounts
- 3 participants from the same company/institution: 10% discount
- 4 or 5 participants from the same company/institution: 20% discount
- More than 5 participants from the same company/institution: 30% discount
- Special discount for higher education institutions: 50%
- Special student discount: 70%
- Free participation for representatives of companies that are members of the BUM Club
Macedonian Stock Exchange AD Skopje
Bank account for payment of the participation fee: 300-0000032408-06, Komercijalna Banka AD Skopje;
For participant accommodation, the Macedonian Stock Exchange AD Skopje has made a preliminary reservation of single, double and triple rooms at Hotel Hotel Metropol Ohrid. and Hotel Bellevue Ohrid, under the following conditions:
| Bed and Breakfast Rates | Single Room | Double Room | Triple Room |
|---|---|---|---|
| Hotel Metropol and Hotel Bellevue | EUR 72 per day | EUR 92 per day | EUR 124 per day |
| Half-Board Rates | Single Room | Double Room | Triple Room |
|---|---|---|---|
| Hotel Metropol and Hotel Bellevue | EUR 84 per day | EUR 116 per day | EUR 156 per day |
| Full-Board Rates | Single Room | Double Room | Triple Room |
|---|---|---|---|
| Hotel Metropol and Hotel Bellevue | EUR 96 per day | EUR 140 per day | EUR 189 per day |
Prices are gross, per room, including tourist tax and VAT.
HOTEL ACCOMMODATION RESERVATIONS ARE MADE DIRECTLY AT HOTEL METROPOL AND HOTEL BELLEVUE SPECIFYING THAT THE RESERVATION IS FOR THE ANNUAL CONFERENCE OF THE MACEDONIAN STOCK EXCHANGE
Hotel accommodation is paid directly by conference participants. When checking in, please specify the type of accommodation you will use (bed and breakfast or half board). Payment is made in the MKD equivalent. VAT is included in the price.
The number of conference participants is limited. Cancellations received by 1 September 2026 will receive a 50% refund of the participation fee. No refund will be issued for cancellations received after 1 September 2026. The Macedonian Stock Exchange reserves the right to change the programme without prior notice.
Participants registered by 1 September 2026 will receive a personalized ID card with their first name, last name and organization. A personalized ID card cannot be guaranteed for registrations submitted after 1 September 2026.