Cooperation with the European Central Bank

The implementation of the EU standards in the operations of the Central Bank is realized by our own capacities, by using internal sources and through bilateral and multilateral cooperation with other central banks and the system network of contacts.

The Programme of the ECB and the Eurosystem: the Central Bank of Bosnia and Herzegovina Needs Assessment, March – September 2007

Through the technical assistance programme in 2007, the Central Bank established a direct cooperation with the European Central Bank. In February 2007, the tripartite Protocol was signed by the European Central Bank, the Delegation of the European Commission in BH and the Central Bank of Bosnia and Herzegovina, which was followed by the signing of the Memorandum on Cooperation between the ECB and the CBBH, which marked the beginning of the realization of the Eurosystem programme on needs analysis and the intention of establishing a long-term cooperation with purpose of strengthening institutional capacities and improvement of the process of preparations for the participation in the work of the European System of Central Banks (ESCB).

The Eurosystem programme on the Central Bank of Bosnia and Herzegovina needs assessment was financed by the EU, it was implemented by the European Central Bank (ECB) in partnership with Deutsche Bundesbank, Bank of Estonia, Bank of Greece, Bank of Spain, Bank of France, Bank of Italy, National Bank of Austria and Bank of Slovenia. The programme included situation analysis in seven operating areas and included the following functions of the CBBH: economic analyses and research, statistics, monetary policy within the currency board arrangement, payment systems, financial stability, internal audit and banking supervision coordination.

The Eurosystem experts have concluded that the CBBH is an institution which has a very good technical reputation and ability, which is reflected in practices and policies which in same aspects are at the level of or close to the EU standards. At the same time, recommendations were given and areas defined in which the CBBH would need to achieve a progress through the implementation of new rules and procedures, by changing the practices and training the staff in the years ahead so that, in operative respect, it would accelerate the preparations for the accession to the European System of Central Banks when Bosnia and Herzegovina is ready to enter the European Union (EU).

ECB announces cooperation program with the CBBH financed by the EU

Programme of Technical Cooperation with the ECB: Implementation of Recommendations of the ECB and Eurosystem, April 2010 –September 2011

The programme was financed by the European Union (EU) through the Instruments of Pre-accession Assistance (IPA) and it was carried out by the ECB in cooperation with seven central banks of the Eurosystem: Germany (Deutsche Bundesbank), Greece (Bank of Greece), Spain (Banco de España), Italy (Banca d'Italia), the Netherlands (De Nederlandsche Bank), Austria (Oesterreichische Nationalbank) and Slovenia (Banka Slovenije). The experts of the central banks of Bulgaria and Romania also gave their contributions to the Programme.

The Programme was a continuation of the programme which was successfully realized in 2007 and was focused on the implementation of the recommendations arising from the Programme of the CBBH Needs Assessment with purpose of gradual harmonization of the operating standards of the CBBH with the standards in the ESCB/Eurosystem in the preparation for the accession of Bosnia and Herzegovina to the EU.

The programme included six areas: 1) statistics, 2) economic analysis and research, 3) financial stability, 4) harmonization of legislation with the EU, 5) coordination of integration with the EU and 6) improvement of the information technology services of the CBBH.

Direct cooperation with the experts of the central banks of the ESCB/Eurosystem made possible the insight and acquiring of knowledge on the best and most up-dated practices and standards of European central banking. The Programme contributed to the improvement of technical capacities, strengthening of institution cooperation with BH and international financial institutions, confirming that an independent and strong central bank is a base for preserving monetary and financial stability of a country on its path to the European integration. The project was estimated as very successful and the ECB, through the transfer of experience, applied the same approach and programme in the neighbouring countries.

The Project of Human Resources Management Process Improvement, in Cooperation with the Central Banks of Germany and Czech Republic

The project was financed by the European Union through IPA 2007 instruments. Twinning light project for the Central Bank of Bosnia and Herzegovina, in duration of six months, was realized in cooperation with the partner central banks of Germany and Czech Republic and it was successfully completed in 2010. The objective of the project was the improvement of the process of human resources management through the modernization and increase of efficiency in management, which represents a base in the preparations of the process of integration in the EU.


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