Governor Selimović and representatives of the WBG on cooperation in the field of instant payments

The Governor of the Central Bank of Bosnia and Herzegovina, Jasmina Selimović, Ph.D. and her associates have met with representatives of the World Bank Group today in Sarajevo.

The meeting was dedicated to the implementation of the upcoming Reimbursable Advisory Services programme by which the World Bank Group, specifically its members the International Bank for Reconstruction and Development (IBRD) and the International Finance Corporation (IFC), can provide to the CBBH related to improvements in the field of instant payments.

During the discussion, the importance of modernising the payment infrastructure and further improving the financial system in BH was emphasised, with a special focus on the development of solutions that will enable more efficient, faster and safer payments in real time through the TIPS Clone project.

The Governor also discussed with representatives of the World Bank Group the preparations of Bosnia and Herzegovina for joining the Single Euro Payments Area, as well as the CBBH work on the technical preparation of banks and infrastructure for joining the SEPA.

Joining the SEPA and implementing the TIPS instant payment programme will bring multiple benefits to the economy and citizens in the form of faster, safer and many times cheaper transactions.

On behalf of the World Bank Group, the meeting was attended by Ms. Xiaoqing Yu, the IBRD Regional Director for the Western Balkans, Ms. Wiebke Schloemer, the IFC Regional Director for the Western Balkans and South Caucasus, Mr. Marcelo Castellanos, the IFC Manager for Southeast Europe, Mr. Christopher Sheldon, the World Bank Country Manager for Bosnia and Herzegovina and Montenegro, and Mr. Armin Ridžalović, Head of the IFC Office for Bosnia and Herzegovina and Montenegro.

The CBBH is highly committed to improving payment systems and strengthening financial infrastructure, in cooperation with relevant international partners and institutions.