News in English     | 21.01.2021. 12:43 |

Fejzić: FBiH Guarantee Fund is one of the best tools of economic policy

FENA Hana Imamović

SARAJEVO, January 21 (FENA) - The Development Bank of the Federation of Bosnia and Herzegovina has adjusted its way of business to the current situation caused by the coronavirus pandemic, and in the previous year the bank was completely stabilized, fully opened to the economy, crafts and agriculture, said Acting Chairman of the Management Board of the Development Bank of the Federation of BiH Semir Fejzić in an interview with FENA.

He stressed that 80 new clients were registered in 2020, which is one of the measures of openness and transparency of this financial institution.

“This bank was very socially responsible and during the pandemic, it was the only one to give loans to its clients with a two percent fixed interest rate without compensation for 36 months of company liquidity, which is one of the very important measures,” underlined Fejzić.

He said that the previous year was marked by the trust given to them by the Government of the Federation of BiH because it established the Guarantee Fund within that special FBiH financial institution.

Fejzić explained the way the fund works, emphasizing that for the first time in the Law on Mitigation of Negative Economic Consequences, the formation of the Guarantee Fund is mentioned, which was then established by a decree of the FBiH Government.

It is defined that the issuance of guarantees to commercial banks, and not to clients, will be the responsibility of the Development Bank.

The Government of the Federation of BiH established the Fund on the basis of a significant deposit of 100 million KM, says Fejzić, of which 80 million KM was already in the account of the Development Bank on the basis of other commission activities, and then planned and approved the amount of 100 million KM in the budget for 2020.

Also, in 2021, the Government of the Federation provided an additional 25 million KM to the Guarantee Fund, which further strengthened the guarantee potential and allocated 15 million KM to interest subsidies.

There are a number of other activities carried out by the Development Bank, and the results are being summarized because it is a very difficult year behind the bank. Nevertheless, Fejzić says he is proud that they have consolidated the bank while businessmen have felt their openness, and the owner of the capital has restored confidence in the institution.

(FENA) A. B.

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