Regulatory Alerts2005-01-01
Decision Repealing the Decision on Compensation for Commercial Banks for Withdrawal of Convertible Mark Banknotes
The Governing Board of the Central Bank of Bosnia and Herzegovina issued this decision on March 3, 2005, to formally repeal the previous regulation establishing compensation for commercial banks handling the withdrawal of convertible mark banknotes. The decision mandates that the Central Bank will continue to accept worn and damaged convertible mark banknotes from commercial banks for withdrawal from circulation without providing any compensation. This repeal takes effect immediately upon publication in the Official Gazette of Bosnia and Herzegovina and related entity publications.
Pursuant to Article 7, point b. of the Law on the Central Bank of Bosnia and Herzegovina ("Official Gazette of BiH", nos. 1/97, 29/02, 8/03, 13/03, 14/03 and 9/05), the Governing Board of the Central Bank of Bosnia and Herzegovina, at its 2nd session held on March 3, 2005, adopts
DECISION
REPEALING THE DECISION ON ESTABLISHING COMPENSATION FOR COMMERCIAL BANKS FOR THE WITHDRAWAL OF CONVERTIBLE MARK BANKNOTES FROM CIRCULATION
This Decision repeals the Decision on Establishing Compensation for Commercial Banks for the Withdrawal of Convertible Mark Banknotes from Circulation ("Official Gazette of BiH", 10/02).
The Central Bank of Bosnia and Herzegovina will, from commercial banks, continue to accept worn and damaged convertible mark banknotes that are being withdrawn from circulation, without compensation.
This Decision shall enter into force on the day of its publication in the "Official Gazette of BiH", and shall also be published in the "Official Gazette of the Federation of BiH", the "Official Gazette of the Republika Srpska" and the "Official Gazette of the Brčko District".
Governing Board No.: 90/05 Chairperson March 3, 2005 of the Governing Board of the Sarajevo Central Bank of Bosnia and Herzegovina GOVERNOR Kemal Kozarić