The CBBH Governor met with the highest level Management of the UniCredit Group from Milan

Sarajevo, 27^th July 2018

On 27 July  2018, Governor of the Central Bank of Bosnia and Herzegovina (CBBH) Senad Softić, Ph.D. met the highest level representatives of the international banking group UniCredit Group from Milan, UniCredit Executive Director Jean Pierre Mustier, and Director of the Central and Eastern European Department Carlo Vivaldi.

The UniCredit Group Delegation featured also the President of the Management Board of UniCredit Bank dd Mostar Dalibor Ćubela, President of the Management Board of UniCredit Bank ad Banja Luka Gordan Pehar, and Director of Marketing and Communications of UniCredit Bank dd Mostar Selma Riđanović Kenović.

This is the first visit to Bosnia and Herzegovina by the Executive Director of UniCredit Group. The discussions addressed the macroeconomic indicators, monetary and financial stability, and compliance of financial and banking regulations with regulatory models and practices. During the meeting, the Governor of the CBBH emphasized that the Laws on Banks in both BH Entities were adopted over a year ago and were, as far as possible, harmonized with the EU directives and Basel principles. The current activities are directed to developing a strategy for the implementation of Basel III.

Governor Softić emphasized the fact that the Currency Board model remains the most appropriate solution for BH which provides the basis for integrating the economic space in the monetary sphere and achieving of the macroeconomic stability. Since the introduction of the Currency Board to date, continuous positive developments of all relevant macroeconomic indicators and indicators, related to the banking sector in BH, have been recorded.

"The CBBH has completely fulfilled one of its basic functions - it has achieved and maintain the stability of the domestic currency, while the external stability has been ensured by the successful maintenance of the fixed exchange rate and regular servicing of the external debt of BH, performed by the CBBH, as a fiscal agent of the state," said Governor Softić.