Contract on KM Exchange in Branch Offices of Volksbank in Croatia Signed 4/13/2000 Tweet The Governor of the Central Bank of Bosnia and Herzegovina, (CBBH) Mr. Peter Nicholl, signed an agreement this afternoon with representatives of Volksbank d.d. in Croatia for the exchange of the Convertible Mark (KM) at branches of Volksbank in Croatia beginning May 1, 2000. Currently the KM is bought and sold by all 75 branches of Splitska banka d.d. in Croatia, however most of these branches are along the Croatian coastline. The addtion of Vollksbank and its' expanding operation in Croatia will help to make the exchange of the KM more accessable and convenient for those in other areas of the country including Zagreb, Varazdin, Rijeka as well as Split. Expansion plans for Volksbank d.d., Croatia include a branch in the autumn of 2000 in Osijek. The CBBH has been very active in visiting foreign countries in the region, building a network of banks where BiH citizens could exchange their KM, however Volksbank d.d., Croatia approached the CBBH and asked to be able to trade KM in Croatia. "I have said for sometime now that if we were patient and fulfilled our obligations in regards to protecting the Currency Board and therefore the KM, banks would soon come to us, and so this is very satisfying," said Governor Nicholl. The KM is currently available for exchange at partner banks in Austria, Czech Republic, Germany, Hungary, Slovakia, Slovenia and Switzerland. Preliminary agreements have been reached with Turkish banks for exchange of the KM starting in summer 2000. The CBBH will make an announcement regarding the Turkish banks when the agreements have been finalised. Further information is available through the CBBH Office for Public Relations at 071/278-100 extention 123 or via email [email protected] .
