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Reading: Twenty Years of the Central Bank of BiH: Successful Performance of Activities of Banking and Fiscal Agents
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Sarajevo Times > Blog > BUSINESS > Twenty Years of the Central Bank of BiH: Successful Performance of Activities of Banking and Fiscal Agents
BUSINESS

Twenty Years of the Central Bank of BiH: Successful Performance of Activities of Banking and Fiscal Agents

July 10, 2021
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For whole 20 years, the Central Bank of Bosnia and Herzegovina (CBBH) has been successfully performing the activities of a banking and fiscal agent and servicing the external debt for our country. Successful performance of agent functions implies a high level of responsibility in the execution of Ministry of Finance and Treasury of Bosnia and Herzegovina orders, and the continuous development and improvement of cooperation and communication systems with relevant ministries.

The Law on the Central Bank of Bosnia and Herzegovina defines that the CBBH shall work as a banker and fiscal agent of Bosnia and Herzegovina. Based on the legal mandate, the CBBH performs transactions ordered by the Ministry of Finance and Treasury of Bosnia and Herzegovina related to servicing the external debt of Bosnia and Herzegovina and acts as a fiscal agent for Bosnia and Herzegovina’s membership in international financial institutions.

All operations, tasks, competencies and mutual relations of the CBBH and the Ministry of Finance and Treasury of Bosnia and Herzegovina, in accordance with legal regulations, are defined by the Contract on External Debt Servicing and the Agreement on Banking and Fiscal Agent for the State of Bosnia and Herzegovina, which were concluded for the first time on July 6, 2001, while the last version was concluded in 2013.

In accordance with the provisions of valid agreements, the Central Bank of Bosnia and Herzegovina, during twenty years of work as a banker and fiscal agent, successfully performed all legal obligations and timely provided the necessary amounts in foreign currencies to pay due liabilities, and timely and accurately make payments based on orders and instructions of the Ministry of Finance and Treasury of BH, duly reporting to the competent Ministry on all performed activities, is stated in the press relase.

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TAGGED: #20, #Bank, #BiH, #Central, #marking, #years
Y.Z July 10, 2021
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