Central Bank of Bosnia and Herzegovina: Best Central Bank Governance CEE 2017
Operating a currency board arrangement that pegs the Bosnia and Herzegovina convertible mark to the euro, the country’s central bank has been instrumental in keeping inflation under tight control whilst setting the wider stage for sustainable economic growth and development.
The Central Bank of Bosnia and Herzegovina (CBBH) maintains a presence throughout the entire country with its organizational Main units in Sarajevo, Banja Luka and Mostar, and Branch offices in Brčko and Pale.
Established in 1997 in accordance with the terms of the Dayton Peace Accord, the CBBH now celebrates its twentieth anniversary. The bank has managed to unify the country monetarily, replacing four different currencies with a single new one.
Acting as an independent entity has allowed CBBH to adhere to a strict currency board regime, ensuring monetary stability by maintaining full coverage in freely convertible currency assets. The bank is also charged with the maintenance of payment and settlement frameworks.
Recognised for its solid governance structure – which reflects the demographic make-up of the country – CBBH has adopted all relevant EU accounting and reporting standards, in the process becoming a valued partner to other central banks in the region.
The CFI.co judging panel commends CBBH on its achievements and recognises the contribution of the bank to the country’s enduring stability. The judges are pleased to offer the Central Bank of Bosnia and Herzegovina the 2017 Best Central Bank Governance CEE Award.
