The International Monetary Fund (IMF), the Office of the EU in BiH and the US Embassy in BiH do not support the introduction of entity payment system which brings into question the unique internal payment sysrem in BiH, as reported by Vecernji List BiH.
The Association of bankers of BiH, which brings together all the commercial banks operating in the financial market of BiH, raised their voice against the “breaking” of the single payment system in BiH as well.
“And, instead of sticking to single internal payment system and to, if necessary, improve it, the entity authorities have, under the guise of introducing higher order in this area, strengthening financial discipline and increasing revenue collection, decided to arrange this area by their entity laws. RS did it the first and then FBiH followed, although in the letter of intent to the IMF they committed to keep a single payment system and a unified register of accounts of business subjects at the Central Bank,” said the spokesman of the Association of Banks. According to them, entity solutions that are offered, instead of improving the payment system and facilitate business, they are breaking down the single economic space of BiH, derogate the role of the Central Registry in the Central Bank of BiH, bureaucratese processes and ultimately increase the costs of banking services.
Because of all of that, they emphasized, the status of the system of the internal payment system from 2001 is not clear. Commission for the Payment System of the Association of Banks of BiH is requesting the postponement of the application of the Law on internal payment system in FBiH. The Association suggests that it is necessary to clearly define the place and role of the Single Transaction Account Registry in the Central Bank of BiH, business entities from the territory of Brcko District and RS, from the standpoint of procedures enforced collection through transaction accounts and reporting system, and that it is necessary to eliminate restrictions on banks and business subjects, introduced by the provision of the Law on internal payment system in FBiH, in a way that the aforementioned provision gets reformulated so that it is clearly and unambiguously applies only to orders of enforced collection.
Association of Banks of BiH requested from the Ministry of Finance FBiH a few months ago to clearly demonstrate how to apply the implementing acts and in what period of time because, as they emphasized, financial IT Agency (FIA) has not been established yet.
(Source: akta.ba)
