Establishment of a Single Registry of Bank Accounts is Necessary

The BH National Payments Council (NPC) pledges its support to the establishment of a single registry of bank accounts that will cover the whole country. Participants of the 17th meeting of the National Payments Council, which was held in Banja Luka on May 11, 2002, said that establishment of a single registry of bank accounts is necessary as companies and banks are increasingly operating in both entities.

The meeting was chaired by the Governor of the Central Bank, Peter Nicholl, and attended by directors of the banking agencies from both entities Dušanka Novaković and Zlatko Barš, representatives of finance ministries from both entities Mira Straživuk and Nikolina Silak,  as well as by representatives of some commercial banks.

Participants of the meeting stated that a single registry will make it easier for banks, tax authorities and the police to identify financial structures and transactions that companies or people may be trying to establish for illegal purposes, including tax evasion or money laundering. Anyone should be able to access the information in the registry.

The National Payments Council also expressed concern about broad accusations in the media accusing particular banks of wholesale involvement in money laundering. Any evidence that exists should be processed through appropriate legal channels before being aired in the media in order to avoid unfairness and unnecessary damage to confidence in the financial system.