Responsible finance conference, Sarajevo, Bosnia and Herzegovina

Sarajevo, Bosnia and Herzegovina, 8 December 2009 - Jointly organised with KfW Entwicklungsbank and the EFSE, the Central Bank of Bosnia and Herzegovina hosted a conference on responsible finance in Bosnia and Herzegovina’s capital city Sarajevo on 8 December 2009. The conference attracted more than 80 participants, representing policymakers from Bosnia and Herzegovina, representatives of donor agencies and international finance institutions, as well as microfinance practioners. They shared their theoretical insights and best practice examples in responsible finance.

The panel discussion highlighted the importance of responsible business practices in the financial services industry – especially in light of the recent turmoil that has hit financial markets around the globe, caused in part by irresponsible banking practices. The promotion of transparent lending practices, financial education and literacy has been identified as a primary response to the financial crisis, in particular in the region of Southeast Europe, including Bosnia and Herzegovina.

As an example to help promote financial literacy, the client education booklet on financial literacy and transparency “How to plan a budget”, developed by ProCredit Bank Bosnia and Herzegovina with the financial support of the EFSE Development Facility was presented during the conference.

Presentations

Dragan Vrankić, Minister of Finance and Treasury of Bosnia and Herzegovina

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Doris Köhn, Senior Vice President, KfW Entwicklungsbank

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Kemal Kozarić, Governor, Central Bank of Bosnia and Herzegovina

Role of the Central Bank of Bosnia and Herzegovina in Responsible Finance

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Radomir Bozić, Vice Governor, Central Bank of Bosnia and Herzegovina

Responsible Management of Foreign Currency Reserves by the Central Bank of Bosnia and Herzegovina

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Matthias Adler, Principal Economist, KfW

Different dimensions and stakeholders in Responsible Finance

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Sylvia Wisniwski, Chief Operating Officer, European Fund for Southeast Europe (EFSE)

Best Practice in Responsible Lending in Times of Crisis: From Loan Origination to Loan Recovery

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Jasmina Glisovic-Mezieres, Microfinance Specialist, Consultative Group to Assist the Poor (CGAP)

Pricing Strategies of Financial Institutions in Challenging Times

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Nejira Nalić, President of the Assembly, Association of Microfinance Institutions in Bosnia and Herzegovina (AMFI)

The Role of the Association of Microfinance Institutions in Bosnia and Herzegovina in Responsible Finance: The Code of Conduct