Dnevni avaz: There is no reason for neurosis, or distrust towards the banks of BiH, and expansion of any kind of doubt in the stability of this sector is unexcused, has been announced yesterday for “Dnevni avaz” by Kemal Kozarić, the governor of the Central Bank (CB) of BiH. Kozarić has said that the quantity of money which has been withdrawn, according to economists represents only four percent of the total saving in BiH.
"Banks in BiH are leading their business normally, and the crisis in the US and in Europe will not damage our financial system. But, unreasonable expansion of neurosis and withdrawing the deposits could bring the damage" says Kozarić.
Mutual trust
Kozarić adds that to the citizens, especially to the economy, the banks are needed, the same way the banks need the economists.
"It is about the mutual trust which has been built and it should not be harmed. We have reacted in order to help the banks, but not because they do not have money, it was more preventively and that is a measure which is totally enough" says Kozarić. As he points out, commercial banks in BiH do not show the signs of degeneration in business, although the crisis in the business world has started a year ago.
Ensured deposit
"Banks in BiH are functioning without disruption, do not have the problems with liquidity, have solid profits and do not show the signs of weakness" says Kozarić. He adds that the indirect consequences of crisis are impossible to avoid.
"They do not endanger the savings; they reflect themselves in a smooth increase of the interest rates, more strict conditions for getting a loan. Saving in almost all banks in BiH is protected thanks to the existence and performance of the Agency for Ensurance of deposits of BiH. Today, the ensured sum is 7.500, and it is expected that it will be increased on 15 000 KM" says Kozarić.
Economic consequences
"Economic consequences of crisis, unfortunately, we will not be able to avoid, but the financial system is not endangered. Economic consequences will be visible in a smaller requisition for our export, smaller foreign investments, smaller number of tourists, smaller assignments, especially from the US, smaller donor assistance, weaker privatization" says Kozarić.
Banks in BiH work differently
The governor says how necessary is to understand that the business of our banks is different than in the banks of the countries in which they suffered disaster.
– BiH banks are dealing with the traditional banking and they have not included their asset a potentially dangerous asset, but almost only the loans for domestic economy.
Therefore, they are not endangered by significant fall of the value of shares or the real estates in countries with too blown prices of real estates – says Kozarić.