The government of the US, through the American Agency for International Development (USAID), will organize in Sarajevo today a roundtable on the topic “Reform of Banking Supervision in BiH” for supervisors and regulatory agencies for the Agency for Banking Supervision, BiH Central Bank, Deposit Insurance Agency of BIH and the Association of Banks.
The Director of USAID to BiH David Barth will open the roundtable.
This roundtable is organized with the support of USAID’s project in the area of the financial sector “partnerships to promote economic reform”, and will represent regional concepts involved in the implementation of international standards of banking supervision (Basel II/III), as well as progress in the reform of banking supervision in BiH.
Regulatory standards Basel II/III has as a goal the strengthening of capital requirements of banks, increasing liquidity, and strengthening the banking sector.
The discussion will emphasize the importance of a well-regulated system of supervision in BiH, which enables a smooth intermediation of funds between savers and investors, and will thereby promote economic activity that makes the country attractive to foreign investors.
USAID’s project “Partnership for improving economic reforms” works on strengthening the regulatory framework of the financial services sector, improving financial management of public resources and the creation of a favorable environment for investing and the development of the private sector.
The project also aims to improve parliamentary scrutiny and greater public attention on the importance of public sector audit, especially audit carried out by the supreme audit institution, which ensures better alignment of economic policies, procedures and professional standards.
Until now, the US government, primarily through USAID, has provided nearly 1,6 billion US dollars to help the economic, democratic and social progress of BiH, announced USAID BiH.