Guide for Digital Payments presented in the CBBH

Online Guide for Digital Payments has been presented today, on 14 June 2022 in the organisation of the Central Bank of Bosnia and Herzegovina (CBBH). It has been developed in cooperation with the World Bank with purpose of better information and acquiring knowledge on modern technologies and possibilities of digital payments available on our financial market. The Guide has been presented by the Head of the World Bank Office for Bosnia and Herzegovina and Montenegro, Mr. Christopher Sheldon and Vice Governor of the CBBH, Ernadina Bajrović, M.A.

In addition to the information on the available possibilities of digital payments, the Guide also includes information and advice on the ways to prevent potential fraud and damages, to protect data, money and rights and have a responsible approach to such way of payment. On this occasion, the importance of financial education generally was pointed out, particularly in respect of new digital services in financial market, and the importance of the existence of mechanisms for protecting users' rights.

Vice Governor of the CBBH, Ernadina Bajrović thanked the World Bank for the support provided by now in the field of financial education and development of payments systems, and expressed a wish for continuation of cooperation. Vice Governor of the CBBH said that increasing trends of digital financial services in the market in BH were observed, so this Guide has met the needs of citizens for additional information and more responsible use.

Head of the World Bank Office Christopher Sheldon expressed satisfaction with the cooperation with the CBBH. He pointed out that he hoped that the Guide for Digital Payments would help citizens to better understand digital financial services, providing basic information about what is offered on the market, but also pointed out the importance of fraud protection and the knowledge on mechanisms for protecting the rights of services' users.

Financial education of users is an important step towards better financial inclusion of citizens, it was pointed out during the promotion.

The Guide will be available free of charge on the website, link as a part of the CBBH educational material that is available to everyone, and will be promoted through the social networks of the CBBH, i.e. the World Bank.

After the promotion, the Head of the CBBH Section for Monitoring and Development of Payment Systems, Halid Tvico, M.Sc. gave a presentation on trends in the area of digital payments in BH.

The CBBH continues to conduct financial education activities with the aim of encouraging financial inclusion through the responsible use of financial services.