Regulatory Alerts1998-05-28
Added · Updated
Decision on Guaranteed Convertibility of the Convertible Mark
The Central Bank of Bosnia and Herzegovina mandates the guaranteed convertibility of the convertible mark (KM) to the German mark (DEM) at a fixed rate of one-to-one for commercial banks. Commercial banks and financial institutions are required to buy and sell KM for DEM from the public without restrictions or commissions, with non-cash transactions settled within two working days. Transactions executed faster than two days or exceeding agreed limits may incur fees not exceeding 1% and require advance notice, while institutions must maintain accurate records of all such transactions.
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