CBBH Gets Praise for Transparency

According to a recent international study, the Central Bank of Bosnia and Herzegovina (CBBH) is one of only sixteen central banks in the world that meets all the transparency criteria. The results of the survey, which was carried out by Prof. Steve Hanke of John Hopkins University, USA, were published in the August Edition of "Central Banker" magazine, London.

The survey covered 174 central banks. They were judged against five criteria: did they have a web-site?; did they published clear and comprehensive financial statements?; were those financial statements published promptly, i.e. within a month?; did they disclose their off-balance sheet transactions?; did they publish the enabling laws for the central bank and the banking system?.

The Central Bank of Bosnia and Herzegovina, together with the central banks from fifteen other countries, met all of the five conditions. The other countries which met all the criteria were Croatia, Czech Republic, Estonia, Hong Kong, Latvia, Lithuania, New Zealand, Philippines, Portugal, Singapore, Slovak Republic, Slovenia, South Africa, Thailand and the United Kingdom.

"The confirmation by an international expert, such as Prof. Hanke that the CBBH is amongst a relatively small group of central banks that are fully transparent about their financial operations is good news for the reputation of BH", the Governor of the CBBH, Peter Nicholl, said. It is particularly important for the attitude potential foreign investors will take to BH.

Public Relations Office
Zijada Kulovic