Socializing with journalists: Ethics and integrity in the CBBH business operations

Ethics and integrity in the operations of the Central Bank of Bosnia and Herzegovina (CBBH) was the topic of socializing with journalists held on December 8, 2021.

Compliance officer Sanja Romić-Bajramović, presented the role and importance of the compliance function in the CBBH, as well as the fact that this function was implemented despite the lack of explicit legal obligations for its introduction. It is a practical need to pay more attention to integrity, business ethics in one institution of state importance, because every irregularity in the work poses a reputational risk, which consequently affects the public and citizens' trust in the work of the CBBH.

As part of the activities dedicated to the development of the Compliance Program, significant regulations were adopted, such as the CBBH Code of Ethics and the new Rulebook on Internal Reporting of Corruption and Other Irregularities in the CBBH.

This Rulebook has made a significant step forward from what is a basic legal obligation under the Law on Whistleblower Protection in the Institutions of BH. The new Rulebook, in addition to the possibility of reporting corruption, provides for the possibility of reporting any other irregularities observed in the work of the CBBH.

The most significant activity has certainly been the introduction of new anti-corruption tool Ethical line, which includes the CBBH in a group of scarce public institutions which have implemented this system. This is an externally protected online system offering a possibility of anonymous reporting of corruption and other irregularities. The system „Ethical line“ which is available 24 hours a day, 7 days a week and is free of charge for the reporting entity, is accessed via the web site : www.cbbh.ba, by clicking the logo „Ethical line“.

Reporting through the system is completely anonymous, if the reporting entity wishes so, and it is not possible to determine where from and by whom the report has been submitted, which provides security to the reporting entity. The system is managed by an independent third party, which has no insight into the contents of internal reports and proceedings, but guarantees high technical standards of protection of the system from misuses or non-professionalism.

You can also support the work of the CBBH by pointing out to us any irregularities which you have observed in our work, and we guarantee that we will consider all the reports which you send, either anonymous or not, with equal attention and treat them according to the Rulebook on Internal Reporting of Corruption and Other Irregularities.

Based on the significance and competences which the CBBH has as the only institution in the country which is in charge of monetary policy and issuing the local currency, the strengthening of integrity, public confidence and stability, in everything we do, is the objective which we try to achieve every day.