Regulatory Alerts2008-11-27
Law on Additional Amendments and Supplements to the Law on the Central Bank of Bosnia and Herzegovina, published in the Official Gazette of BiH, No. 8/03
The High Representative for Bosnia and Herzegovina issued this decision to enact provisional amendments to the Law on the Central Bank of Bosnia and Herzegovina, granting the bank explicit authority to implement financial blocking orders against entities financing terrorism or obstructing the peace process. The amendments empower the Central Bank to open special reserve accounts for commercial banks complying with entity banking agency directives, mandate the immediate transfer of blocked funds to these reserves, and authorize the Central Bank to block non-compliant banks' accounts until release is approved. The legislation enters into force immediately on a provisional basis pending formal parliamentary adoption, ensuring a unified legal framework to freeze assets and secure interbank payment systems across both entities.