Governor of the Austrian National Bank has visited the CBBH

A delegation of the Oesterreichische Nationalbank – the Austrian National Bank, led by Governor Martin Kocher, has visited the Central Bank of Bosnia and Herzegovina (CBBH).

At the meeting with the CBBH Management, led by Governor Jasmina Selimović, Ph.D., they discussed the global economic and financial situation, the modernisation of the BH payment system through the process of accession to the Single Euro Payments Area (SEPA) and the TIPS Clone instant payment project, trilateral cooperation between the CBBH, the Austrian National Bank and the Croatian National Bank, and financial education projects.

Governors Selimović and Kocher assessed the long-term and very fruitful cooperation between the two central banks as highly successful. The support of the Austrian National Bank in strengthening the institutional and professional capacities of the CBBH, including the areas of statistics, economic analysis, financial stability, risk management and digitalisation, was particularly stressed, as well as joint participation in the programmes of the European Central Bank, the European Union and the European System of Central Banks.

"Cooperation with the Austrian National Bank for the Central Bank of Bosnia and Herzegovina has particular importance, not only because of the professional ties of our institutions, but also because of the concrete support that we received through joint programs and the exchange of expertise in the process of strengthening our capacities and approaching European standards. I believe that this cooperation will remain an important pillar in the further institutional development of the CBBH in the coming period," said Governor Jasmina Selimović, Ph.D..

The Austrian delegation expressed full support for the reform efforts led by the CBBH, and pointed out that an independent and stable Central Bank is crucial for economic development and the European path of BH.

Governor Martin Kocher emphasized: „We discussed topics of mutual interest, including the geopolitical and geoeconomic situation, the stability of financial markets, developments in the field of monetary policy, as well as opportunities for further deepening cooperation between our two Central Banks. I am especially pleased that we have identified new opportunities for cooperation in the field of financial literacy, as well as for the exchange of knowledge and experiences between our institutions.“

During the meeting, it was also pointed out that Austria is one of the most important economic partners of Bosnia and Herzegovina and one of the leading foreign investors, especially in the financial sector. It was emphasized that Austrian investments contributed to the modernization of the banking sector in Bosnia and Herzegovina, the introduction of new technologies and business practices, as well as, the overall economic development of the country.

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