FBiH Government Implements Comprehensive and Strategic Reform of the Financial and Payment System of the Federation of BiH

(Patria) - At today's session, the Government of the Federation of Bosnia and Herzegovina, upon the proposal of the Federal Ministry of Finance, adopted a package of six key laws and amendments to laws implementing a comprehensive and strategic reform of the financial and payment system of the Federation of BiH. This is one of the most significant institutional and economic reforms in this government's mandate.

With this reform package, the Federation of Bosnia and Herzegovina establishes a modern, secure, and European-aligned legal framework for digital payments, strengthening the protection of financial service users and the long-term stability of the financial system, while creating all key prerequisites for Bosnia and Herzegovina's accession to the Single Euro Payments Area – SEPA.

The reform package includes the Law on Payment Services, the Law on Electronic Money, the Law on Payment Accounts, Amendments to the Law on Protection of Users of Financial Services, Amendments to the Law on Banks, and Amendments to the Law on Microcredit Organizations.

Joining the SEPA payment area brings citizens faster and cheaper payments, businesses lower operating costs, and the financial system stronger oversight and greater stability. These laws are a key regulatory prerequisite for accession to the SEPA area and a strong impetus for overall economic development.

The Law on Payment Services represents the central pillar of the reform, as it systematically regulates modern payment transactions in the Federation of BiH for the first time, opening the market for innovations and new payment service providers, while simultaneously setting high security standards and strong regulatory oversight.

Together with the Law on Electronic Money and the Law on Payment Accounts, the Government of the Federation of BiH ensures faster, cheaper, and safer digital payments, greater transparency of fees, and stronger legal certainty for citizens and businesses.

Amendments to the laws on banks, microcredit organizations, and protection of users of financial services ensure full alignment of the entire financial system with the new rules, strengthen oversight, and further protect citizens' rights.

With this package of laws, the Government of the Federation of Bosnia and Herzegovina sends a clear and strong message - the Federation is decisively entering a new phase of modernizing the financial system. This is a strategic decision that ensures lower costs, greater security, and financial services that exist in the European Union for citizens and businesses. Entry into the SEPA system means concrete benefits for every citizen, every entrepreneur, and public institutions. This is a European standard that is now being built in the Federation of BiH.

With this reform package, the Government of the Federation of Bosnia and Herzegovina confirms a clear political will for deep and responsible reforms in the interest of citizens, the economy, and the European path of Bosnia and Herzegovina.

The laws are being forwarded to the Parliament of the Federation of BiH for consideration and adoption under urgent procedure.