Contract Which Supports Establishment of the Single Registry of Bank Accounts Signed

Governor of the Central Bank of BH (CBBH) Peter Nicholl and Director General of the "Halcom" Company from Slovenia Matijaž Čadež signed today, March 25, 2004, in Sarajevo, Contract on Upgrade of the giro-clearing system, which will make possible establishment of the single registry of bank accounts of legal entities in BH.

With the today's signing of the Contract, the "Halcom" Company will deliver the software to the CBBH, that is, the license which will upgrade the existing giro-clearing system for the purpose of support to the single registry of bank accounts.

The single registry of bank accounts will be managed in the CBBH and its main units in Sarajevo, Mostar and Banja Luka and its establishment will be carried out in two stages.

The first stage should end by July 5, 2004, which is the date when the registry should become available to the commercial banks and will represent the support to the payments system.

Within the second stage, the registry will become available to the non-banking sector, that is, to courts, tax administrations and banking agencies. In this stage, the registry, which will be connected with registries of the statistical bureaus, will help the money laundering prevention and will be the support to the forced collection and implementation of court procedures.

The single register of bank accounts initially will apply exclusively to KM accounts of legal entities.