prijava
SARAJEVO, October 14 (FENA) - In order to apply international standards in the fight against money laundering and terrorist financing, amendments to the Law on Internal Payments will create a legal basis for the establishment of the Register of private entities' accounts.
The Bill was adopted today by the deputies of the House of Representatives of the FBiH Parliament and in order for it to enter into force, it needs to be passed by the House of Peoples of the Parliament of the Federation of BiH.
Assistant FBiH Minister of Finance Mira Bradara explained in a statement for FENA that the establishment of the Register will also represent the implementation of the Action Plan for eliminating the identified shortcomings in the system of prevention of money laundering and terrorist financing.
The Register of private entities' accounts will be established in the Financial Information Agency (FIA) and will contain only information about the accounts and their owners. This means that it will not contain data on the balance of funds on the accounts and the turnover on the accounts," said Bradara.
The data from the Register will not be publicly available and the provisions of this law prescribe which bodies and institutions can obtain the data, exclusively with the competencies and authorities prescribed by special laws.
"The law stipulates reduction in interbank fees for card payment transactions, which leaves room for sellers at points of sale to reduce sales prices as a result of cost reduction," Bradara emphasized.
(FENA) S. R.
