Delegation of the CBBH in Visit to the Bank of Greece

Upon invitation of the Governor of the Bank of Greece Nicholas C. Garganas, delegation of the Central Bank of Bosnia and Herzegovina (CBBH) - Governor Kemal Kozarić and Vice Governors Feriha Imamović and Ljubiša Vladušić - was in two-day visit to Athens where they had a large number of meetings with the Governor and Deputies to the Governor of the Bank of Greece, as well as with the managers of the Bank’s departments.

The two Delegations had discussions about banking supervision, during which the Governor of the Bank of Greece stressed the importance of good quality and consolidated supervision for the stability of entire financial sector.

According to the assessment of the International Monetary Fund (IMF), the Bank of Greece has achieved a high level of supervision. Namely, the Bank of Greece is in charge of supervision of around 80% of the financial sector of Greece, including commercial banks, leasing, and factoring and credit companies, foreign exchange bureaus (FX Bureaus), companies for money transfers from abroad and funds for guarantees of small and very small enterprises.

Discussions were also made about previous cooperation and the intensifying of future cooperation between the two central banks, especially in the domain of training of employees. Governor Garganas offered the technical assistance of the Bank of Greece to the CBBH and his personal engagement in providing the assistance of the European Central Bank.

Representatives of the Bank of Greece informed the CBBH delegation on experiences of the Bank of Greece in joining the ECB and in implementation of the single monetary policy within the European Monetary Union (EMU).

Discussions were also made on foreign exchange reserve management, functioning of the payment system and the human resource management, which is an equally important issue.

The CBBH Delegation has presented its experiences in these domains presenting the positive results which the CBBH has achieved during the eight years of work.