Republika Srpska needs to adopt a new law on payment services and pass a new regulation on the physical transfer of cash, in the context of joining Bosnia and Herzegovina to the European payment system for cross-border payments in euros – SEPA (Single Euro Payments Area).
The Law on Payment Services of the RS was determined in the form of a draft at the session of the Government of the RS at the end of last year, it was submitted to the parliamentary procedure and should be on the agenda of the next regular session of the National Assembly of the RS.
As we know, the adoption of a regulation for the physical transfer of cash is in the process, and the part that needs to be harmonized refers to the entry of investment gold.
Marko Đogo, a professor at the Faculty of Economics of the University of East Sarajevo, says that joining the SEPA area, above all, gives a positive signal to potential investors.
“Our economy is small and open, which means that businessmen will have cheaper costs when paying in euros,” explains Đogo.
He points out that joining the SEPA area should also affect the transfer of gray flows of remittances from the diaspora.
Đogo says that he does not know how the calculation of 100 million euros per year was arrived at, which the economy and citizens allegedly lose because Bosnia and Herzegovina is not in the SEPA area.
“Of course, cross-border transactions in euro value will be cheaper, but I really don’t know how much is allocated annually for that now,” adds Đogo.
Governor of the Central Bank of BiH, Jasmina Selimović, stated that the pre-application for BiH’s accession to the SEPA area was submitted in December 2025.
“BiH is ready for the next stages of the SEPA process, bearing in mind the fact that both entity governments have adopted the necessary laws. A formal application is expected in the first quarter of 2026, with the aim of enabling faster, safer and cheaper payments in euros,” concluded Selimović.
Single euro payment area – SEPA represents an area where consumers, business entities and public authorities can make and receive payments in euros under the same basic conditions, rights and obligations, regardless of their location.
The goal of the SEPA initiative is to establish a unified system of payment transactions.
The SEPA area includes 41 countries: all members of the European Union, as well as the United Kingdom, Iceland, Liechtenstein, Norway, Switzerland, Monaco, San Marino, Andorra, the Vatican, Serbia, Montenegro, Albania, North Macedonia and Moldova.
Of the surrounding countries, only BiH is not yet in the SEPA area.
