Members of the Commission for the Fight Against Corruption and Kleptocracy of the PABiH House of Representatives held a meeting with members of the IMF Mission

Deputy Chair of the Commission for the Fight Against Corruption and Kleptocracy of the House of Representatives of the Parliamentary Assembly of Bosnia and Herzegovina (PABiH), Branislav Borenović, and members of that Commission, Ermina Salkičević – Dizdarević and Nenad Grković, held a meeting with members of the International Monetary Fund (IMF) Mission in Sarajevo today.

During the meeting, the IMF Mission’ representatives, who deal with issues of fighting corruption and preventing money laundering, were informed about competences and objectives of the work of the Commission, which, as it was said, will use its competences and instruments of parliamentary supervision to work on prevention and eradication of corruption - a problem that dominates all social spheres in Bosnia and Herzegovina.

The members of the Commission assessed that this is an important and challenging task and emphasised the need to establish close co-operation with national and international institutions dealing with this problem. In this regard, they pointed out to the necessity to establish full transparency in the work of public institutions and the public expenditure, including loans from international financial institutions.

The representatives of the IMF informed the members of the Commission about the evaluation process carried out in BiH by the Committee of Experts on the Evaluation of Anti-Money Laundering Measures and the Financing of Terrorism (MONEYVAL Committee), as well as about the very serious social and financial implications of eventual negative report of the MONEYVAL Committee for BiH. In this regard, they emphasised the need to adopt the new Law on the Prevention of Money Laundering and Financing of Terrorist Activities, the draft being at the stage of preparation, and which, they said, represents an important tool in the fight against corruption in every country. They also emphasised that the quick adoption of this law, harmonised with international standards, would contribute to the MONEYVAL committee's report being favourable for BiH.

IMF representatives also pointed to the need to establish a register of owners of legal entities in the economy, as well as to the need to amend the existing legal regulations in BiH with the aim of strengthening the principles of transparency and a more efficient fight against corruption.

The members of the Commission announced that they will request detailed information from the BiH Council of Ministers on the process of drafting the Law on the Prevention of Money Laundering and Financing of Terrorist Activities, as well as a strong engagement in the fight against corruption and the adoption of laws that meet international standards in that area. (end)