The CBBH Paid a Part of Its Profit Into the Budget of BH Institutions and Took Over and Converted the Monetary Gold

Today, on April 1, 2009, the Central Bank of Bosnia and Herzegovina (CBBH) paid amount of KM 119, 6 million into the Budget of BH institutions in line with the Decision on distribution of a part of net profit, which the CBBH recorded in 2008.

The CBBH, in 2008, recorded profit in amount of KM 199, 4 million in 2008, which in accordance to the provisions of the CBBH Law, is distributed so that 60% or KM 119, 6 million is allocating on the account of the budget of BH institutions and 40% or KM 79, 8 million for the CBBH general reserves.

On Tuesday, March 31, 2009, the CBBH took over and converted the monetary gold, which the CBBH obtained from the Agreement on Succession Issues.

Taking over and converting of the monetary gold in the total amount of 42,352.167 ounces was done  at the price of USD 917, 15 per a gold ounce and  at the exchange rate  of BAM 1, 482476 for 1 USD.

Based on taking over and converting of the monetary gold, the amount of KM 57, 584, 245, 13 was paid into the account of the Ministry of Finances and Treasury of Bosnia and Herzegovina with the value date of March 31, 2009 and since that date the CBBH is owner of the gold in its portfolio as well. 

Taking over and converting of the monetary gold was done based on Decision of the CBBH Governing Board on Taking over and Converting of the Monetary Gold and Agreement concluded between Bosnia and Herzegovina and the CBBH.

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