US Ambassador to BH, H.E. Maureen E. Cormack visited the CBBH

January 26, 2018

On January 26, 2018, the Ambassador of the United States of America (USA) in Bosnia and Herzegovina, H.E. Maureen E. Cormack visited the Central Bank of Bosnia and Herzegovina (CBBH), where she met with the Governor of the CBBH Senad Softić, Ph.D. and exchanged the information on the situation in the BH economy and financial sector and on the current and planned activities of the CBBH.

During the visit, the Governor thanked Ambassador Cormack for the great support that the US Government has provided so far in the process of reforming the financial sector in Bosnia and Herzegovina. "The US Government has made a key contribution to the efficient and rapid reform of the financial sector in BH, especially through the USAID-funded projects. The assistance that we had in the payment system reform, which is considered one of the most successful reforms in Bosnia and Herzegovina, and in the establishment of the Central Credit Registry for citizens and legal entities, as well as other projects, enabled the CBBH to perform better. The successful implementation of these projects has also given commercial banks the opportunity to introduce new services, thanks to which BH citizens have financial services at the level of developed western economies available ", Governor Softić said, pointing out that these are just some examples of the successful cooperation of the CBBH with the US Government, and stressed his belief that it will continue in the future.

During the discussion, Governor Softić presented to Ambassador Cormack the latest macroeconomic indicators for BH and commented on the situation in the banking sector, where he pointed out that 2017 was marked with the strengthening of the sector stability through the continuous process of consolidation and  the adoption of new legislation regulating the sector. The new legislation represents modernization and harmonization of domestic regulations with EU regulations, which should contribute further to strengthening the stability of the banking sector.

"The CBBH has taken significant obligations regarding the European integration of BH, and successfully completed its part of the job related to the questionnaire of the European Union, in which the CBBH has a significant role. We are aware that this is only the first step on the long road to the full membership of BH in the EU and the CBBH joining the European System of Central Banks (ESCB). This path will require a significant improvement in competencies, which we will continue to work on", said Governor Softić.

Ambassador Cormack emphasized the importance of the CBBH in the financial sector and supported its current and future activities.

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