Agency for Banking Supervision: Regulating Financial Institutions in the Federation of Bosnia and Herzegovina
The Agency for Banking Supervision (hereinafter referred to as “the Agency”) is an independent agency responsible for supervising and regulating banks, micro-credit organizations, and leasing companies in the Federation of Bosnia and Herzegovina.
Key Points from the Law
- Establishment of the Agency: The Agency is established as a separate legal entity with its own Statute.
- Powers and Responsibilities: The Agency has the authority to supervise banks, micro-credit organizations, and leasing companies, examine their activities, and ensure compliance with laws and regulations.
- Confidentiality: The Agency is responsible for maintaining confidentiality in its dealings with financial institutions and individuals.
- Cooperation with Other Authorities: The Agency can cooperate with other authorized bodies to exchange information and implement supervisory tasks.
- Financing: The Agency’s resources are obtained from compensations achieved through the issuance of banking, micro-credit organization, and leasing company licenses, supervision of banks, micro-credit organizations, and leasing companies’ operations, and from other compensations.
- Reporting Requirements: Banks, micro-credit organizations, and leasing companies must submit reports to the Agency in accordance with regulations issued by the Central Bank.
- Auditing: The Federal Agency in charge of auditing performs revisions to the Agency’s accounts and books.