Rešo: FZZZ funds are for employment, not for the Development Bank

There is no reason for funds intended for employment to be a guarantee of the stability of the Development Bank of FBiH; they are a guarantee for employment, not for preserving the bank's stability, Kenan Rešo, director of the Federal Employment Bureau (FZZZ), told the Patria News Agency (NAP), reacting to information published in the media, allegedly stated by Ramiz Džaferović, former director of the Development Bank, in the Prosecutor's Office.

It was reported that Džaferović stated that the Development Bank was to be defrauded of two million KM, and that these funds were to go through FZZZ to the Mostar-based company “Kera-Steel-Team“, with 40-year-old unusable equipment as collateral.

- It was said that the Federal Bureau attempted to commit fraud in the placement of a loan to the company “Kera-Steel-Team“, but no loan was placed to that company, and at this moment, we have an objective disagreement with the offered collateral, and in that regard, it is the last obligation remaining for “Kera-Steel-team“ to try to secure. I hope they will manage to secure the collateral during the next week. However, if they do not provide it, the loan will not be placed – says Rešo.

He further emphasized that they are not exerting any pressure on the Development Bank to place funds from its own resources to anyone, including the company “Kera-Steel-Team“.

- What is the subject of the contract between the Federal Employment Bureau and the Development Bank is a commission business. Therefore, in all moments that appear in this whole story, it is about our funds. We have no influence on the funds of the Development Bank. However, it is our commission bank in this process, and it is the one that, according to the contract, should place the funds intended for employment. The story that the Development Bank will be endangered by the placement of funds is a fabrication, because these funds are not intended to preserve the stability of the Development Bank, but for projects of opening new jobs and preserving existing employment – explains Rešo.

All arrangements realized from this deposit that the Federal Bureau has in the Development Bank serve exclusively for that and no other purpose, Rešo specified, adding that the only condition they expect is sufficiently good collateral, which provides a guarantee that public funds will be protected.

- The thesis that the Development Bank will be endangered in any way due to our management of our funds is complete nonsense, because no one has the right to limit how a bank client manages their funds, and the Development Bank is not the guardian of these funds, but rather a commission bank that is supposed to place funds where the depositor determines through appropriate conditions – notes Rešo.

He added that in the case of all loans placed through the Federal Employment Bureau, the complete procedure was followed, and every penny that went to companies is fully in accordance with the law.

- Besides the law, everything was done with common sense, because through these funds, existing employment has been preserved in Krivaja today, and I hope that this program of opening 80 new jobs in Stolac will also be realized – added Rešo.