Banknote of KM 5 is Being Withdrawn From the Circulation

On its session held on Thursday, March 26, 2009 in Sarajevo, the Governing Board of the Central Bank of Bosnia and Herzegovina (CBBH) adopted Decision on withdrawing of KM 5 banknote from circulation, which has been used as a legal tender.

The holders of KM5 denomination banknotes can make payments with these banknotes in circulation  without any problems until December 31, 2009. Since January 1, 2010   the KM 5 banknotes ceased to be the legal tender and they cannot be accepted in the circulation for settlement of any liabilities.

Commercial banks will continue to accept banknote of KM 5 from January 1 until 31 March 2010. Coins of KM 5 stay in circulation.

The CBBH Governing Board adopted the Decision on taking over and converting of the monetary gold. The CBBH takes over and converts the monetary gold received on the basis of the Agreement on Succession, in total amount of 42,352.167 ounces. The CBBH will perform the taking over and converting of monetary gold at the most recent quoted gold price of the Reuters Agency, applying the middle exchange rate of 1 US dollar, according to the exchange rate of the CBBH, published on March 31, 2009.

Decision on minting of additional quantities of coins in KM 1 and 20 fenings denominations is adopted, as well.  Additional quantities of minted money of KM 1 and 20 fenings will have the same basic characteristics and technical specifications, but the "2009" numerical mark as the year of these denominations minting will be on the back side. Five million pieces of 1 KM and 20 fenings coins, each, will be minted and will be put in circulation gradually, depending on needs.

The Governing Board adopted the CBBH Financial Reports for 2008 and brought the Decision on distribution of net profit for the last year. The distribution of the CBBH net profit in the amount of KM 199,422,958.89 will be executed in a way that amount of KM 79,769,183.56 will be transferred on account of general reserves of the CBBH and amount of KM 119, 653, 775.33 will be transferred on account of the BH Budget.

The CBBH Governing Board appointed Angela Medić as Deputy General Comptroller of the CBBH for her second term of four years.

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