Central Bank of Bosnia and Herzegovina

The Central Bank of Bosnia and Herzegovina (Bosnian, Croatian and Serbian: Centralna banka Bosne i Hercegovine / Централна банка Босне и Херцеговине) is the central bank of Bosnia and Herzegovina, located in the capital city, Sarajevo.

Central Bank of Bosnia and Herzegovina
Centralna banka Bosne i Hercegovine
Централна банка Босне и Херцеговине



HeadquartersUlica Maršala Tita 25,
Sarajevo
Coordinates43.8588°N 18.4206°E / 43.8588; 18.4206
Established20 June 1997 (1997-06-20)
Ownership100% state ownership[1]
GovernorSenad Softić
Central bank ofBosnia and Herzegovina
CurrencyBosnia and Herzegovina convertible mark
BAM (ISO 4217)
Reserves12.40 billion USD[2]
Websitewww.cbbh.ba

Overview

The Central Bank of Bosnia and Herzegovina was established in accordance with the Law adopted at the Parliamentary Assembly of Bosnia and Herzegovina on June 20, 1997. It started its operation on August 11, 1997.

The Central Bank of Bosnia and Herzegovina maintains monetary stability by issuing domestic currency according to the currency board arrangement with full coverage in freely convertible foreign exchange funds under the fixed exchange rate (1 BAM: 0.51129 EUR). The Central Bank of Bosnia and Herzegovina defines and controls the implementation of monetary policy of Bosnia and Herzegovina. The Central Bank of Bosnia and Herzegovina supports and maintains appropriate payment and settlement systems. It also co-ordinates the activities of the BH Entity Banking Agencies, which are in charge of bank licensing and supervision.

The Central Bank of Bosnia and Herzegovina has the head office, three main units and two branches. The head office of the Central Bank of Bosnia and Herzegovina is in Sarajevo, in the former branch building of the State Mortgage Bank of Yugoslavia, completed in 1931.[3] The main units are the Main Unit Sarajevo, the Main Bank of Republika Srpska CBBH Banja Luka and Main Unit Mostar. The branches are: the CBBH Branch in Brčko and the Main Bank of Republika Srpska CBBH Branch in Pale.

The senior body of the Central Bank of Bosnia and Herzegovina is the governing board, which is in charge of establishing and supervision of monetary policy, organization and strategies of the Central Bank, all according to the powers given to the board by the law. According to the law on CBBH, the governing board consists of five persons that are appointed by the BH presidency for a six-year mandate. The governing board appoints one of its members as governor.

The governor of the Central Bank of Bosnia and Herzegovina is Senad Softić.

The management of the Central Bank of Bosnia and Herzegovina consists of a governor and three vice governors, appointed by the governor with the approval of the governing board. The task of the management is the operative management of the Central Bank business. Each vice governor is directly responsible for the operations of one sector of the Central Bank.

Governors

The following have been Governors of the Central Bank of Bosnia and Herzegovina:[4]

  1. Peter Nicholl (20 June 1997 – 31 December 2004)
  2. Kemal Kozarić (1 January 2005 – 11 August 2015)
  3. Senad Softić (11 August 2015 – present)

See also

References
  1. Weidner, Jan (2017). "The Organisation and Structure of Central Banks" (PDF). Katalog der Deutschen Nationalbibliothek.
  2. "Devizne rezerve BiH na godišnjem nivou porasle za 2,64 milijarde KM".
  3. "Državna hipotekarna banka u Sarajevu". Milan Zloković.
  4. "Senad Softic, Ph.D. Is the New CBBH Governor".
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