Governor of the Central Bank of Bosnia and Herzegovina, Senad Softić, Ph.D. held a working meeting with representatives of the Banks Association of Bosnia and Herzegovina, led by Chairman Milan Radović, at which they discussed important issues for the work of the banking and financial sector as a whole.
During the discussion, it was emphasized the need for strengthening the coordination between all stakeholders in financial and banking system - the Central Bank of Bosnia and Herzegovina, Entities’ Banking Agencies, the Deposit Insurance Agency of Bosnia and Herzegovina and the commercial banks in the territory of Bosnia and Herzegovina within their jurisdiction, via the Banks Association of BH, aiming to create more favorable environment, as well as, better functioning of system and adopting of more qualitative regulations and solutions.
Representatives agreed with the same view that, in the interests of transparency and unique functioning of the banking and financial system, the existence of the Central Registry of Transaction Accounts and the Central Credit Registry is of crucial importance. It was pointed out that it is necessary for these Registries to be integral and to have updated information.
It was also discussed the issue of the reserves requirement, as related to the calculation base, so as to the calculation rate of required reserves, and the issue of special reserves for public revenues funds that banks are required to set aside in accordance with the Entities’ Law on Banks. Within this, it was pointed out that the issue of reserve requirement has been an exclusive jurisdiction of the CBBH as state level institution, being responsible for monetary policy.
During the meeting, the need to promote non-cash payments was also emphasized, due to the higher level of cash payments in BH in relation to global trends.
The collocutors also commented on other matters, and they agreed to continue, at the level of the relevant institutions, to discuss all open issues with the aim of strengthening the cooperation.
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