Multiple damages to economy due to the blockade of FBiH Securities Commission

Multiple damages to economy due to the blockade of FBiH Securities Commission

SARAJEVO, August 26 (FENA) – Damages to the economy of the Federation of Bosnia and Herzegovina can be measured in millions of KM because the FBiH Parliament has failed to make a decision on the appointment of the FBiH Securities Commission for 20 months.

The members of that commission are proposed by the president of the Federation of BiH with the consent of two vice presidents, but the originally proposed composition did not have a single Serb representative, which is why the Serb caucus in the FBiH House of Peoples refused to support the proposed decision.

The decision was returned for implementation of the new procedure when a Serb representative was proposed as a member. The proposed new decision was adopted by the House of Representatives, while the House of Peoples has not yet done so.

Due to these problems and the fact that 400 cases are already waiting for a solution, about 70 percent of joint stock companies are blocked, and foreign investments are completely disabled, a meeting of representatives of the House of Peoples and the business community was convened in Sarajevo today.

The meeting was organized by members of the Collegium of the House of Peoples of the FBiH Parliament Jasmin Duvnjak (SDA) and Ivo Tadić (HDZ), and they invited representatives of the FBiH Chamber of Commerce, the Foreign Investment Council, the Banking Association and the FBiH Employers’ Association.

All participants in the meeting at the press conference jointly appealed to the parties that have their representatives in the FBiH Parliament to support the newly proposed decision and “unblock” the economy on September 9, when the session of the House of Peoples should be held.

Vice President of the Chamber of Commerce of the Federation of Bosnia and Herzegovina, Mirsad Jašarspahić, warned today that due to this situation, no serious investor initiates investments because he is not able to formally and legally implement them to the end.

“The value of shares cannot be increased because there is no Commission that would verify it, it cannot enter into a new joint investment or change the members of the supervisory boards because the verification of the Commission is needed to complete each of these things,” he explains.

The Federation of BiH is currently the only territory in the world that functions on the principle of capital flows, joint stock companies, issue of shares, where the investor cannot come to invest, underlined Jašarspahić.

The House of Peoples of the FBiH Parliament is therefore invited to adopt the Draft Decision on the appointment of members of the FBiH Securities Commission, in which Adnan Zukić, Matej Živković, Predrag Mlađen, Esad Dželilović and Romeo Zelenika are proposed as members.