Croatian National Bank to control import transactions

Published: 19/5/1999

Continuing the 134th meeting held on May 7, 1999 the Council of the Croatian National Bank, chaired by Governor Dr. Marko Škreb, approved the 1998 Annual Report of the Agency for Domestic Payments (Zavod za platni promet, ZAP) for 1998, as well as the work plan and the budget for 1999. The Council further decided on extending the authorities of the Croatian central bank in the area of control of international transactions to include, beside the control of export transactions, the control of import transactions. The purpose of this decision is to enhance the supervision of import transactions, that is, to prevent the contracting and realization of fictitious transactions related to the import of goods and services. At this meeting, the Croatian mint "IKOM" was given approval for minting of gold medal "Zlatna medalja Croatia osiguranja za 115. obljetnicu" on the occasion of the 115th anniversary of the Croatian insurance company "Croatia osiguranje".

At its 135th meeting held today, the Council of the Croatian National Bank approved the Annual Report of the Croatian National Bank for 1998, the Financial Statement of the CNB for 1998, as well as the Financial Plan of the CNB for this year. These documents will be submitted to the Croatian Parliament for review. The CNB Council also examined the report on the functioning of the Croatian Real Time Gross Settlements System which was implemented on April 6, 1999.

In addition, the Council of the CNB gave its approval to the European Bank for Reconstruction and Development and to Kärntner Landes- und Hypothekenbank AG Klagenfurt for acquiring additional 33.30 percent of voting shares in Slavonska banka d.d. Osijek on the basis of recapitalization. Further, the Council of the CNB gave its approval to Privredna banka Zagreb for the operation of its representative offices already established in Frankfurt am Main, London and Zürich.

At the Wednesday meeting, the Council of the CNB appointed several CNB officials to the committee in charge of the banking exam. The committee will be headed by Mr. Čedo Maletić, CNB Executive Director for Banking Supervision. The Council also decided that the banking exam fee will amount to 2 thousand kuna.