Regulatory Alerts2012-01-01
Decision on the Exchange of Convertible Mark Banknotes of 50 Fening, 1 and 5 Convertible Marks
The Governing Board of the Central Bank of Bosnia and Herzegovina issued this Decision to regulate the exchange of withdrawn 50 fening, 1, and 5 convertible mark banknotes. Commercial banks are mandated to perform these exchanges for the public from November 1, 2012, through December 31, 2017. The Central Bank will subsequently accept the exchanged notes from commercial banks via dedicated vaults no later than March 31, 2018.
Pursuant to Article 39 of the Law on the Central Bank of Bosnia and Herzegovina ("Official Gazette of BiH", nos. 1/97, 29/02, 13/03, 14/03, 9/05, 76/06 and 32/07) and Article 52 of the Rules of the Central Bank of Bosnia and Herzegovina, Ref. No. UV: 120/05 dated June 29, 2005, 100-UV Ref. No.: 66/10 dated April 29, 2010, 100-UV Ref. No.: 130/11 dated March 30, 2011, and 100-UV Ref. No.: 18/12 dated January 31, 2012, the Governing Board of the Central Bank of Bosnia and Herzegovina, at its 10th session held on October 4, 2012, adopted the
D E C I S I O N on the exchange of convertible mark banknotes, of denominations 50 fening, 1 and 5 convertible marks
Article 1. The Central Bank of Bosnia and Herzegovina (hereinafter: the Central Bank) shall exchange convertible mark banknotes of denominations 50 fening, 1 and 5 convertible marks that have been withdrawn from circulation and have ceased to be legal tender in accordance with the Decision on the withdrawal from circulation of convertible mark banknotes of denomination 50 fening ("Official Gazette of BiH", 35/02), the Decision on the withdrawal from circulation of convertible mark banknotes of denomination 1 convertible mark ("Official Gazette of BiH", 23/08), and the Decision on the withdrawal from circulation of convertible mark banknotes of denomination 5 convertible marks ("Official Gazette of BiH", 28/09).
Article 2. (1) The exchange of banknotes referred to in Article 1 of this Decision shall be carried out by commercial banks starting from November 1, 2012, through December 31, 2017. (2) The Central Bank shall accept the exchanged banknotes from point 1 of this Decision from commercial banks via dedicated vaults, successively during the period specified in paragraph 1 of this Article, and no later than March 31, 2018.
Article 3. 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 of BiH".
100-UV Ref. No.: 95/12 Chairman October 4, 2012. of the Governing Board Sarajevo of the Central Bank Bosnia and Herzegovina GOVERNOR dr. Kemal Kozarić