Has Fejzić's Tenure as Director Ended with the Appointment of the Supervisory Board of the Development Bank?

(Patria) - After giving preliminary approval for the dismissal of acting members of the Supervisory Board of the Development Bank of FBiH, the Government of the Federation of BiH gave preliminary approval for the appointment of Igor Živko as president, and Mehmedalija Hadžović, Adisa Omerbegović Arapović, Marijo Gadžić, Sejfudin Krnjić, Zoran Zeljko, and Salih Dedić as members of this supervisory board, for a period of five years.

Does this mean that Semir Fejzić (SDA), acting CEO of the Development Bank of FBiH, whose mandate expired in November last year, is out? The relevant minister Jelka Milićević (HDZ BiH), and the Prime Minister of the Federation Fadil Novalić have done nothing to date to ensure that this significant financial institution has a legal head.

Fejzić's own appointment was carried out with legal acrobatics, and it is worth noting that the Law on the Development Bank of FBiH does not recognize the position of acting CEO, but rather this is stipulated by the Decree on the Exercise of Powers in Companies with State Capital Participation within the Competence of the Federation of BiH.

It is incomprehensible that we have an acting CEO at the head of the Development Bank, and one whose mandate has expired.

Semir Fejzić was appointed acting CEO for the period until the completion of the tender procedure, but which was never carried out. At the time of his appointment, it was clearly stated that he would remain acting CEO until the completion of the tender procedure, and for a maximum period of 12 months.

His appointment was also controversial and was the subject of public announcements. It was written that he lacked adequate educational qualifications and sufficient work experience. Semir Fejzić, namely, graduated and obtained a master's degree from the Faculty of Mining, Geology, and Civil Engineering at the University of Tuzla, earned a doctorate from the Faculty of Mining at the University of Banja Luka, and obtained the title of Doctor of Technical Sciences.

According to Patria's sources from the Development Bank, Fejzić is acting arbitrarily, especially in the area of the Guarantee Fund, which was established at the Development Bank of FBiH by the Government of FBiH. The fact that Fejzić is controversial is also indicated by the fact that he is involved in a court case in Tuzla.

Namely, the Prosecutor's Office of Tuzla Canton filed an indictment against Fejzić, because as the director of the Bosnian Cultural Center (BKC) Tuzla from the beginning of 2012 to May 2015, he committed the criminal offense of abuse of authority in economic operations.

The indictment accuses Fejzić of violating the provisions of the Law on Budgets in FBiH and the relevant subordinate legislation during this period, and of holding and using unauthorized funds from the income generated by BKC Tuzla from renting out premises, organizing events, or one-time hall rentals.

The TK Prosecutor's Office stated that investigations determined that Fejzić instructed employees not to pay such income, amounting to approximately KM 47,000, which was never recorded in the business books of BKC as its own income, into the deposit account of public revenues of the TK budget, which was a legal obligation of the budget user. Money from such generated income, which was not paid into the single treasury account, was used for various needs of BKC Tuzla. In this way, the institution acquired illegal property benefits in the mentioned amount, and the budget of Tuzla Canton was damaged. The Government of FBiH will have to react urgently for the sake of the reputation of the Development Bank, as well as for the entrepreneurs whom this bank is supposed to serve.