The CBBH received a prestigious award for initiative in the financial stability field

At the Central Banking Awards ceremony held on 10 June in London, the Governor of the Central Bank of Bosnia and Herzegovina, Jasmina Selimović,Ph.D. received the prestigious international award won by the Central Bank of Bosnia and Herzegovina for its initiative in the financial stability field.

It is one of the most prestigious international awards in the central banking field, awarded to institutions and leaders that have made outstanding contributions, through their reforms, innovations and strategic initiatives, to the improvement of central banking, strengthening financial stability and public confidence.

With this award, the international expert public confirmed the success of the reform processes and development initiatives implemented by the Central Bank of BH with the aim of modernising the financial system, improving the regulatory framework and strengthening the institutional resilience of Bosnia and Herzegovina.

The explanation of the award particularly points out the strategic and comprehensive approach of the Central Bank of BH in strengthening the financial system resilience, as well as its ability to act as a credible partner in a complex institutional and economic environment, to bring together the relevant parties and lead reform processes which are crucial for the country's financial stability.

Among the activities that have been particularly recognized are the completion of the regulatory framework aligned with the European Union standards within the preparations for Bosnia and Herzegovina's joining the Single Euro Payments Area (SEPA), the development of instant payment systems through the TIPS Clone project in cooperation with the Bank of Italy, as well as the improvement of the cyber resilience of the financial sector through the establishment of mechanisms for the exchange of information on cyber risks and incidents.

Significant attention was also drawn to the results achieved in the area of sustainable finance, including the integration of climate risks into the macroprudential framework, the activities aimed at increasing financial literacy, inclusion and gender equality, as well as reforms in the areas of currency operations and improvements of the design of convertible mark banknotes.

Upon receiving the award, Governor Jasmina Selimović, Ph.D. pointed out that this recognition is the result of joint work, expertise and dedication of all employees of the Central Bank of Bosnia and Herzegovina.

„This award is a strong confirmation that the Central Bank of Bosnia and Herzegovina, despite the challenges and complexity of the environment which it operates in, has the capacity to lead reforms, drive change and build partnerships that contribute to long-term stability and development. We continue to work hard on the modernisation of payment systems, increasing cyber resilience, developing sustainable finance, improving financial inclusion and implementing other reform activities that contribute to higher resilience of the financial system and increasing the confidence of citizens and the economy", said Governor Selimović.

The award is a significant international recognition for the Central Bank of Bosnia and Herzegovina and further confirmation of its key role in preserving monetary and financial stability, strengthening institutional capacity and supporting sustainable economic development of Bosnia and Herzegovina.