The House of Peoples of the Federation of Bosnia and Herzegovina adopted today five laws drafted by the Federal Ministry of Finance.
Thus, the support of the delegates of the House of Peoples was received by the Draft Law on Amendments to the Law on the Amount of Default Interest on Public Revenues, the Draft Law on Amendments to the Law on Mandatory Insurance in Transport, the Draft Law on Amendments to the Law on Determining and Realizing Citizens’ Claims in the Privatization Process, the Draft Law on Amendments to the Law on Leasing, and the Draft Law on Amendments to the Law on Foreign Exchange Operations, which, among other things, establishes a preventive system for preventing money laundering and financing of terrorist activities through the misuse of transactions with virtual currencies and wallet depository services.
The adopted amendments also align the law with the misdemeanor provisions of the Law on Misdemeanors of the Federation of BiH, and are harmonized with FATF recommendations. The reasons for its adoption are also contained in the fulfillment of BiH’s obligations under the MONEYVAL recommended measures and the risks of non-fulfillment of the recommended measures, with the Action Plan for the implementation of the MONEYVAL recommended measures.
As explained by the Federal Ministry of Finance, the main goal of this legal solution is harmonization with existing EU regulations and FAFT recommendations regarding the areas of preventing money laundering and terrorist financing, as well as partial, regulated liberalization of the foreign exchange regime as envisaged by the EU accession agreement.
