FBiH Banking Agency implements High Rep's decision on financing Dodik's party

"Banks, as authorized institutions for conducting payment transactions, operate within the framework of domestic payment operations in accordance with the Law on Domestic Payment Transactions (‘Official Gazette of the Federation of BiH’, nos. 48/15, 79/15, and 4/21), hereinafter referred to as the Law,” the agency told N1.
It explained that Article 16, paragraph (2), item 2 of the Law states that “payment orders debiting a payer’s account may also be issued by authorities and institutions based on legal authorizations.”

“Consequently, banks headquartered in the Federation of BiH, as well as organizational units of banks from Republika Srpska and the Brcko District of Bosnia and Herzegovina operating in the Federation of Bosnia and Herzegovina, are obliged to act in accordance with the aforementioned legal provision and ensure the application of applicable regulations governing this area,” the statement reads.

Schmidt, in announcing his Decision, stated that all budgetary funds designated for financing these parties at all levels of government in BiH would be suspended and redirected to a special account at the Central Bank of BiH.

“With this decision, support is being given to the efforts of BiH institutions to counter the ongoing flagrant attacks by the ruling coalition in Republika Srpska, led by SNSD and United Srpska, on the fundamental principles of the Constitution and legal order of Republika Srpska,” Schmidt added.