Press Release 2/8/2000 Tweet On February 7th 2000, the Governor of The Central Bank of Bosnia and Herzegovina, Peter Nicholl, Vice Governor Kemal Kozaric and Representatives of the FBiH Banking Agency held a meeting with the commercial banks which have requested licenses for performing payment services. In order to transfer the BiH payment system, legal and physical persons would not be obliged to keep giro accounts to the ZPP, which will have licenses for performing the services of the payments system from the FBiH Banking Agency. Commercial banks expressed their readiness to offer their commitment to providing the services in the domestic payments system for transactions of low and medium risk. It was agreed that a certain period of time is still necessary for performing high risk transactions which includes the quality preparations of the banks, Banking Agency, Finance Ministry, authorized Tax Administration and Central Bank. In order to make these preparations on time it was decided that an expert team would be established including members from the above mentioned institutions and some commercial banks, which would, according to the Law, prepare the necessary instructions. The representatives of the 20 banks at the meeting expressed an optimistic tone following this meeting as well as their readiness to undertake their fair role in the payments system. According to the statements of the authorized representatives of FBiH Banking Agency, the first licenses will be issued by March 1st 2000. According to the Law of the Central Bank of Bosnia and Herzegovina, Article 2.c., the CBBH is authorized to support, establish and aid in the maintenance of the payment systems. The CBBH will hold a similar meeting with the commercial banks and the Banking Agency of Republika Srpska, in order to have a parallel process in the reform of the payments system in all of Bosnia and Herzegovina.
