Central Bank of Bosnia and Herzegovina signs Euro anti-counterfeiting pact with ECB

The CBBH said the agreement represents an important improvement in international cooperation in the field of currency protection, which has a direct impact on the security of cash transactions, public and business community confidence in the euro as one of the world's most important international currencies, and the strengthening of overall financial security in Bosnia and Herzegovina.

The agreement establishes a direct institutional framework for cooperation between the two central banks, based on the systematic exchange of information, technical data and expertise.

The European Central Bank will provide the Central Bank of Bosnia and Herzegovina with technical information and data on known classes of counterfeit euro banknotes, including their characteristics and features relevant to more precise identification, more reliable classification and more effective monitoring of counterfeiting in Bosnia and Herzegovina.

In turn, the CBBH will provide the ECB with data on all counterfeit euro banknotes detected in Bosnia and Herzegovina and, where necessary, their digital images or physical samples for expert analysis and reliable classification. This will ensure that information on counterfeit banknotes detected on the domestic market is included in the broader system for monitoring and analyzing this phenomenon.

The framework also offers the important benefit of enabling timely information-sharing on significant euro counterfeiting cases, improving the exchange of relevant findings and strengthening institutions' ability to respond to new forms and patterns of counterfeiting.

“The significance of this agreement goes beyond its immediate technical purpose. It further strengthens the institutional ties between the Central Bank of Bosnia and Herzegovina and one of the key financial institutions of the European Union and confirms the CBBH's commitment to continuously improving international cooperation, applying European standards and strengthening institutional capacities,” CBBH Governor Jasmina Selimovic said.

In the context of Bosnia and Herzegovina's European path, such forms of cooperation are particularly important because they help bring domestic institutions closer to European mechanisms, procedures and standards in the fields of currency protection and financial security.

By signing the agreement, the Central Bank of Bosnia and Herzegovina further confirms its role as a reliable institutional partner in international cooperation and continues its efforts to strengthen confidence in the financial system, its security and its alignment with European standards, the CBBH said.