SARAJEVO, Bosnia (October 16,2008) - At yesterday's session of Bosnian State Presidency, the Bosnian Minister of Finance and Treasury Dragan Vrankić has informed the Bosnian Presidency about the possible consequences of the world financial crisis for Bosnia.
The report was given at the request of the Bosnian State Presidency members.
Minister Vrankić said that the Bosnian banking sector is sound and stable, that the banks were liquid and the consequences of financial crisis that affected the world would not directly reflect on Bosnia.
He informed the Bosnian Presidency members that resistance of banking system was ensured by strict legal measures of agencies for bank security and deposit insurance as well as high rate of obligatory reserve which business banks must keep in Bosnian Central Bank.
The Bosnian State Presidency is convinced that discernible mistrust of the Bosnian citizens, who have money deposed in banks and have been raising it lately, is ungrounded.
The Bosnian Presidency assumes that mistrust towards banks could reflect on the capacity of banks to invest in the Bosnian economy, which still has negative consequences for economic growth and also the standard of all Bosnian citizens.
According to the Bosnian State Presidency, Bosnia will not have the crisis of banking sector which occurred at the world banking scene.