Governor of the CBBH attended Annual General Meeting of BIS

Governor of the Central Bank of Bosnia and Herzegovina (CBBH), Senad Softić, PhD, participated on 25 June 2023 in the 93. Annual General Meeting of the Bank for International Settlements (BIS), seated in Basel, the Swiss Confederation.  

Annual economic report of BIS has been presented at the meeting, which addresses the challenges which central banks are facing and financial stability risks during the latest and the most difficult struggle against inflation. The report also comments on the roles of fiscal and macroprudential policies with a special stress on the necessity of monetary and fiscal policy functioning in a coherent way in order to ensure long-term stability. A special attention was paid to digitalization and tokenization of money and assets as a new kind of market infrastructure.

Governor also attended the BIS Annual Conference which is held every year during the Annual Meeting, with a special panel discussion on the subject currently in focus of banking community. This year's conference subject was central banks, macrofinancial stability and future of financial system, and it gathered central bank governors, leading academics and economic experts.

BIS has several roles, out which two should be stressed – one is safe investment of member banks' foreign exchange reserves, and the other is strengthening of international financial cooperation, particularly dialogue among financial institutions on the subject of financial stability promotion. In addition to these activities, BIS also represents a central bank agent in operations of international payments, and within activities in the area of monetary and financial stability, it regularly publishes analyses and data used by member banks in decision making process.  

Currently, 63 central banks from entire world are shareholding member banks with rights of representation and voting at annual meetings. The CBBH has been a shareholder of BIS Basel since December 1997 and it has 1060 shares, so the Central Bank of Bosnia and Herzegovina will be paid an appropriate dividend on that basis.