House of Peoples of PSBiH session at 11 AM on Bill on Restriction of Property Disposal

(Patria) - The Speaker of the House of Peoples of the Parliamentary Assembly of Bosnia and Herzegovina, Kemal Ademović, has called an urgent session of that house for today.

There is only one item on the proposed agenda - the request of the Council of Ministers of BiH for the consideration of the Bill on Restriction of Property Disposal for the purpose of preventing terrorism, financing of terrorism, and financing the proliferation of weapons of mass destruction, under an urgent procedure.

In mid-March, the Council of Ministers of BiH unanimously adopted and sent the bill to the Parliamentary Assembly of BiH for consideration under an urgent legislative procedure. The goal is to establish a reliable, timely, and complete mechanism for the implementation of sanctions.

The proposed law, prepared by the Ministry of Security in cooperation with relevant institutions, eliminates a key systemic deficiency from the report of the Committee of Experts on the Evaluation of Anti-Money Laundering and Terrorist Financing Measures (MONEYVAL), which assessed in December 2024 that BiH does not have a functional and complete system for implementing international financial sanctions.

The provisions of this law ensure the urgent, immediate, and effective implementation of decisions of the UN Security Council and its sanctions committees, as well as decisions of BiH institutions and other measures, and full compliance with the relevant FATF recommendations, thereby fulfilling our country's international obligations and preserving its financial system – the Council of Ministers of BiH stated earlier.

By systematically regulating the prohibition of temporary disposal of property in order to prevent, or rather finance, terrorism and the proliferation of weapons of mass destruction, while respecting the principles of legality and legal certainty, as well as by clearly defining procedures and specifying competent authorities, supervisory bodies, and obligated parties implementing the measures of this law, a broader legal basis is created for preventing money laundering and terrorist financing in BiH.

The proposed law is of exceptional importance for preserving the international reputation of BiH and avoiding entry into FATF's ICRG process (International Co-operation Review Group), according to the Council of Ministers of BiH.

Today's session is scheduled for 11 AM. We remind you that previous sessions, which also dealt with important laws, were not held due to a lack of quorum.