The House of Peoples of the Parliamentary Assembly of BiH adopted in urgent procedure the Law on Amendments to the Law on financing of political parties, with which recommendations of the Group of States against Corruption (GRECO) on increasing transparency of financing of political parties have been implemented.
The adopted amendments prohibit financing of political parties through bank loans and prescribes the obligation of political parties to include in their financial reports all the benefits gained from the activities of subjects that are associated with them in any way or are under their control, which has the aim to increase the transparency of financial reports.
In order to implement recommendations of GRECO, the obligation of introduction of internal financial control was prescribed in order to prevent incorrect recordings of revenues and expenditures, as well as the abuse of financial resources.
One of the adopted articles obliges the Central Election Commission to report any suspicion linked to the financing of political parties and election campaigns to the Prosecutor’s Offices.
Financial penalties for political parties are doubled from 5,000 to 10,000 BAM, and for physical entities are provided penalties from 200 to 2,000 BAM.
Amendments to the law were prepared by the Intersectoral working group.
(Source: akta.ba)
