Central Bank of BiH: Detailed inspection confirms shortage of 600,000 KM

A detailed extraordinary inspection of the entire treasury status has preliminarily confirmed a shortage of 600,000 KM in the segregated treasury of the Main Unit Sarajevo of the Central Bank of Bosnia and Herzegovina, as the Central Bank of Bosnia and Herzegovina initially announced, reports the Patria news agency.

- Namely, during an internal control on December 8, 2014, the Central Bank of Bosnia and Herzegovina identified a shortage of 600,000 KM in the segregated treasury of the CBBiH Main Unit Sarajevo, and on the same day reported the case to the competent authorities, identified a possible perpetrator, and called on police and other bodies to act in accordance with their jurisdiction.

Despite established internal controls, numerous treasury inspections during 2014, and the implementation of video surveillance, this criminal act occurred, which the perpetrator has also confessed. An analysis of all procedures is currently underway to identify critical moments in which the employee violated internal rules - the statement said.

Nedžad Bajraktarević, the employee who committed and confessed to the aforementioned act, was hired as a permanent employee at the Central Bank of Bosnia and Herzegovina in 2001 through a public advertisement, met the requirements, and passed psychophysical checks. In 2004, he was transferred to the treasury of the Main Unit Sarajevo. During recent years and regular systematic check-ups, no lack of ability to perform duties at the workplace was identified for this employee, nor were there any reports of violations of internal rules and discipline.

As part of the measures being taken, nine employees of the Main Unit Sarajevo, which is organizationally segregated along with its treasury, have been suspended. The suspension was carried out to review the entire chain of the cash handling system, in order to identify any potential failures in the dual control system, video surveillance, or other internal procedures. Upon completion of the process, all those who did not contribute to this incident will be reinstated to regular status. If the investigation shows that any employee, through action or inaction, enabled the criminal act to occur, appropriate measures will be taken in accordance with the internal acts of the Central Bank of Bosnia and Herzegovina.

Considering that the Central Bank of Bosnia and Herzegovina and the money in the treasury are insured, the Central Bank of Bosnia and Herzegovina will file a property-legal claim for damages.

The Governing Board and the Audit Committee of the Central Bank of Bosnia and Herzegovina have been informed of this incident and the activities undertaken, and all competent authorities in Bosnia and Herzegovina have been notified.

As new facts emerge during the investigation, the Central Bank of Bosnia and Herzegovina will inform the public in an appropriate manner.