Governor who introduced the convertible mark visits the Central Bank of BiH

(Patria) - Governor of the Central Bank of Bosnia and Herzegovina (CBBH) Jasmina Selimović hosted Peter Nicholl, who served as Governor of the CBBH from October 1997 to December 2004.

After holding several positions during his career at the Reserve Bank of New Zealand and the World Bank, Nicholl became Governor of the CBBH in October 1997. His term was marked by significant achievements, such as the introduction of the convertible mark into circulation, which replaced the four currencies that were in use at the time, the establishment of modern payment systems, and the pegging of the convertible mark to the euro after the withdrawal of the German mark, to which the convertible mark was pegged, until the euro became the single European currency.

During his visit to the Central Bank of Bosnia and Herzegovina, Nicholl gave a presentation to CBBH officials and guests, representatives of commercial banks and agencies. Former CBBH Governors Kemal Kozarić and Senad Softić also attended the presentation.

"Even today, in our daily work, I hear that something was established when Mr. Nicholl was governor. We are working 20 years after that time, and we talk a lot about the time when Mr. Nicholl was here. It is obvious that his legacy is enormous," said Governor Selimović, and noting that the CBBH continues to successfully maintain a high level of reputation and independence, she recalled one of Mr. Nicholl's statements that "reputation is hard to earn and easy to lose".

"As is known, during Mr. Nicholl's time, we got the first official currency, the first banknote, and during that time, high-quality payment systems, and regardless of the cost, Mr. Nicholl worked on introducing the highest standards into the CBBH operations," said Governor Selimović and thanked Nicholl for the knowledge and experience he shared and continues to share with CBBH employees.

In his presentation, Nicholl recalled the time when he took over the position of Governor of the CBBH and his experiences in managing the Central Bank of Bosnia and Herzegovina during its establishment and early years of operation. He also reflected on the successful operation of the CBBH after his term, emphasizing that he followed the institution's work even during crises that did not bypass BiH.

For his work at the CBBH, Peter Nicholl received the prestigious Central Banking Award for exceptional contribution to institution building two years ago.