Banking Agency of Republika Srpska signed the Memorandum of Understanding with the Central Bank of the Russian Federation
Director Rade Rastoka, on behalf of the Banking Agency of Republika Srpska, Jasmin Mahmuzić the director of the Banking Agency of the Federation of Bosnia and Herzegovina and Dmitry Tulin, the First Vice-Governor of the Central Bank of the Russian Federation signed today the Memorandum of Understanding.
The objective of this Memorandum is to establish more efficient cooperation and mechanism of exchange of information between the banking agencies and the Central Bank of the Russian Federation, within the legally stipulated scope, where such cooperation and information are necessary for the performance of signatory institution competences. Signing of this Memorandum contributes to the strengthening of reliability and stability of the signatory institution banking sectors, and promoting the integrity, stability and efficiency of the supervised banks.
The recommendations issued by the Basel Committee relating to the principles of consolidated and overall supervision and cooperation between institutions responsible for banking supervision, as well as the International Standards of the Anti-Money Laundering and Financing of Terrorism and Proliferation (FATF recommendations) have been fulfilled with the signing of this Memorandum.