Decision on the Withdrawal from Circulation of 10, 20, 50, and 100 Convertible Marks Banknotes Issued Between 1998 and 2009

Based on Article 39 of the Law on the Central Bank of Bosnia and Herzegovina (Official Gazette of BiH, numbers: 1/97, 29/02, 13/03, 14/03, 9/05, 76/06 and 32/07), the Governing Board of the Central Bank of Bosnia and Herzegovina, at its 6th meeting held on March 28, 2024, adopts

DECISION

on the withdrawal from circulation of banknotes of denominations 10, 20, 50 and 100 Convertible Marks put into circulation in the period from 1998 to 2009

Article 1.
(Subject of withdrawal of banknotes from circulation) The Central Bank of Bosnia and Herzegovina (hereinafter: the Central Bank) withdraws from circulation banknotes of Convertible Marks (hereinafter: KM) of denominations 100 KM, 50 KM, 20 KM, 10 KM put into circulation in the period from 1998 to 2009 by denomination and issue, as follows:
a) Banknotes of denominations 10 KM, 20 KM, 50 KM and 100 KM with the year of issue 1998, which are in circulation as legal tender in accordance with the Decision on the issuance and putting into circulation of banknotes of the Convertible Mark (Official Gazette of BiH, number: 10/98), b) Banknotes of denominations 50 KM and 100 KM with the year of issue 2002, which are in circulation as legal tender in accordance with the Decision on the issuance, basic features and putting into circulation of additional quantities of banknotes of the Convertible Mark in denominations of 50 KM and 100 KM (Official Gazette of BiH, number: 11/02), c) Banknotes of denominations 50 KM and 100 KM with the year of issue 2007, which are in circulation as legal tender in accordance with the Decision on the issuance, basic features and putting into circulation of additional quantities of banknotes of the Convertible Mark in denominations of 50 KM and 100 KM (Official Gazette of BiH, number: 40/07), d) Banknotes of denominations 10 KM, 20 KM, 50 KM and 100 KM with the year of issue 2008, which are in circulation as legal tender in accordance with the Decision on the issuance, basic features and putting into circulation of additional quantities of banknotes of the Convertible Mark in denominations of 50 KM and 100 KM (Official Gazette of BiH, number: 5/08) and the Statement on putting into circulation of banknotes of the Convertible Mark in denominations of 10 KM and 20 KM, additionally printed in 2008 (Official Gazette of BiH, number: 95/08), e) Banknotes of denomination 50 KM with the year of issue 2009, which are in circulation as legal tender in accordance with the Statement on putting into circulation of banknotes of the Convertible Mark in denomination of 50 KM, additionally printed in 2009 (Official Gazette of BiH, number: 93/09).

Article 2.
(Use of banknotes in circulation)
(1) Banknotes from Article 1 of this Decision may be used in circulation until December 31, 2024.
(2) Banknotes from Article 1 of this Decision cease to be legal tender from January 1, 2025, may not be used in circulation and become exclusively subject to exchange in accordance with Articles 3 and 4 of this Decision.

Article 3.
(Exchange of banknotes at commercial banks)
(1) The exchange of banknotes from Article 1 of this Decision shall be carried out by commercial banks from January 1, 2025 to December 31, 2025.
(2) The Central Bank will, through separate treasuries, successively (in the period from January 1, 2025 to December 31, 2025, and no later than January 20, 2026) receive exchanged banknotes from commercial banks from paragraph (1) of this Article.

Article 4.
(Exchange of banknotes at the Central Bank)
(1) Upon expiration of the exchange period of banknotes at commercial banks from Article 3 paragraph (1) of this Decision, the exchange of banknotes shall be carried out by the Central Bank for the next 10 years, from January 1, 2026 to December 31, 2035. (2) The exchange of banknotes from paragraph (1) of this Article shall be carried out by the Central Bank at the Central Office of the Central Bank of Bosnia and Herzegovina in Sarajevo and the Main Bank of the Republic of Srpska of the Central Bank of Bosnia and Herzegovina in Banja Luka. (3) The procedure for the exchange of banknotes at the Central Bank shall be prescribed by a separate act.

Article 5.
(Entry into force)
(1) This Decision enters into force on the eighth day from the date of publication in the Official Gazette of BiH.
(2) The Decision is published in the Official Gazette of the Federation of BiH, the Official Gazette of the Republic of Srpska and the Official Gazette of the Brčko District of BiH.

Number: UV-122-02-1-804-7/24
Sarajevo, March 28, 2024

Chairwoman of the Governing Board of the
Central Bank of Bosnia and Herzegovina GOVERNOR dr. Jasmina Selimović