Agencija za Bankarstvo Republike Srpske

Press Release regarding the published Foreign Exchange Inspectorate Report

09.02.2016. yr.

Number: 01-175/2016

With respect to the published Report on inspection of the Balkan Investment Bank a.d. Banja Luka performed by the Republic of Srpska Foreign Exchange Inspectorate, we inform about the following:

Inspectors of the Foreign Exchange Inspectorate who signed the report lack the fundamental knowledge about the work of the Banking Agency of Republika Srpska, professional knowledge on performing banking supervision and they are not authorized to evaluate the work performed by an independent institution such is the Banking Agency of Republika Srpska.

Following the insight into the report, we state that it contains numerous tendentious nonsense which we can not nor want to discuss, but from the report itself it is evident that the main task has not been adequately performed, i.e. the task of examining the foreign exchange and foreign trade operations of the Bank.

It is sad that the Banking Agency of Republika Srpska, as an independent institution with a large number of professional and trained supervisors, has to argue with the administrative organization for which it is questionable whether it adequately performs the work for which it is responsible and where the same organization engages itself in the work of much complex and professional supervision.

It is high time that the abovementioned are held accountable for presenting these kinds of untruths, ignorance and causing reputational damage to the Banking Agency of Republika Srpska.

Director

        Slavica Injac