Nonetheless, there are challenges ahead. When Bosnia eventually joins the EU, CBBH wants to be ready for the European System of Central Banks. To achieve this, further alignment and adoption of EU standards are needed. SPI is assisting CBBH in these efforts. Currently, the focus of the cooperation is on the fields of asset and risk management, data management and statistics, cash management, and IT. In all these fields, the co-operation aims to strengthen internal processes and structures at CBBH in order to put the particular departments in a position to contribute even more to CBBH’s success – and, therefore to a successful EU-“rapprochement” of the whole country.
Central Bank of Bosnia and Herzegovina (CBBH) enjoys a good reputation and a great deal of trust, not just with Bosnia’s people and the business community, but also internationally. That is quite an achievement for an institution that has only been around for less than two decades. To a large extent, the success is due to the monetary stability it has managed to provide through the successful operation of a currency board which ties the country’s currency firmly and credibly to the Euro. But it is also reflective of the high level of professionalism characteristic of CBBH.