Central Bank of Bosnia and Herzegovina signs Cooperation Agreement with the International Finance Corporation (IFC)

(Patria) - The Central Bank of Bosnia and Herzegovina (CBBiH) has signed a Cooperation Agreement with the International Finance Corporation (IFC), within the framework of the Digital Financial Services Project for the Western Balkans. The IFC - a member of the World Bank Group - is the largest global development institution focused on the private sector in emerging markets.

The Agreement defines cooperation on a project aimed at improving digital financial services and strengthening financial infrastructure in Bosnia and Herzegovina.

The project includes support for the development of instant payment systems and open banking, as well as the improvement of cashless payment systems. Additionally, it provides support for strengthening cyber resilience through raising awareness of security threats in the financial sector, advisory assistance in aligning local regulations with European Union directives and standards, and promoting financial literacy through the creation of educational content for users of financial services.

The Governor of the Central Bank of Bosnia and Herzegovina, Jasmina Selimović, emphasized the importance of this project, noting that the digitalization and modernization of payment systems, strengthening financial education of citizens, and improving the resilience of information systems are some of the strategic goals defined in the new Strategic Plan of the CBBiH.

"This cooperation represents a significant step towards a more modern and resilient financial system, which will be aligned with European standards and better prepared to meet the challenges of the digital age," the Governor stated.

The project is being implemented in partnership with the Swiss State Secretariat for Economic Affairs SECO, and its implementation will contribute to greater availability of quality financial services, strengthening the resilience of the sector, and fostering economic development in Bosnia and Herzegovina.