Regulations

The Dayton Peace Agreement in English Language and The Constitution of Bosnia and Herzegovina

(as they pertain to the Central Bank of Bosnia and Herzegovina)

Article VII

The Central Bank

There shall be a Central Bank of Bosnia and Herzegovina, which shall be the sole authority for issuing currency and for monetary policy throughout Bosnia and Herzegovina.

1. The Central Bank's responsibilities will be determined by the Parliamentary Assembly. For the first six years after the entry into force of this Constitution, however, it may not extend credit by creating money, operating in this respect as a currency board; thereafter, the Parliamentary Assembly may give it that authority.

2. The first Governing Board of the Central Bank shall consist of a Governor appointed by the International Monetary Fund, after consultation with the Presidency, and three members appointed by the Presidency, two from the Federation (one Bosniac, one Croat, who shall share one vote) and one from the Republika Srpska, all of whom shall serve a six year term. The Governor, who shall not be a citizen of Bosnia and Herzegovina or any neighboring state, may cast tie-breaking votes on the Governing Board.

3.
Thereafter, the Governing Board of the Central Bank of Bosnia and Herzegovina shall consist of five persons appointed by the Presidency for a term of six years. The Board shall appoint, from among its members, a Governor for a term of six years.

Note: Text of the Law on Central Bank of Bosnia and Herzegovina has been translated into English for the needs of using the English text.

Amendments and Supplements to the Law on the Central Bank of Bosnia and Herzegovina

Law on the Central Bank of Bosnia and Herzegovina, published in „Official Gazette of BH“, 1/97


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