KOZARIC: FINACIAL SECTOR IS THE MOST ORDERLY PART OF THE BOSNIAN ECONOMY

SARAJEVO, Bosnia (May 9,2008) - Announcing the opening of the Bosnian Finance Days conference yesterday, the Governor of the Bosnian Central Bank Kemal Kozaric asserted how the financial market is the most orderly part of the Bosnian economy.

The financial sector and commercial banks are playing important roles in the economic development of Bosnia, he said, and reminded that last year commercial banks in Bosnia lent a total of 11 billion Bosnian Marks. 43 per cent of that (4.8 billion Bosnian Marks) were loans to private companies; citizens borrowed 48 per cent of the amount (5.4 billion Bosnian Marks), while smaller shares went to the public sector (6 per cent, 658 million Bosnian Marks) and other borrowers (3 per cent).

Governor Kozaric is also the Organization Board Chairman for the conference starting today. The main topic discussed in the northern Bosnian city of Banja Luka will be “Financial stability – reality or illusion”.
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