20th anniversary of the Convertible Mark celebrated

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The Central Bank of Bosnia and Herzegovina (CBBH) and the “JP BH POŠTA” d.o.o. Sarajevo celebrated the 20th anniversary of the convertible mark (KM), the monetary unit of Bosnia and Herzegovina. The ceremony was held today at the CBBH premises in Sarajevo. On that occasion, the postal mark „20 years of convertible mark“, issued by the “JP BH POŠTA” d.o.o. Sarajevo, was promoted.

The postal mark was printed in the issue of 10 000 pieces, with a nominal value of KM 1.50. The author of this philatelic edition is Tamer Lučarević, the designer of the “JP BH POŠTA” d.o.o. Sarajevo.

The “JP BH POŠTA” d.o.o. Sarajevo also issued the FDC envelope in the issue of 150 pieces with a nominal value of KM 2.00. In this way, as a socially responsible company, whose philatelic editions are largely dedicated to marking significant dates and jubilees in Bosnia and Herzegovina, the “JP BH POŠTA” d.o.o. Sarajevo contributed to marking 20 years of putting convertible mark in circulation,  as the only monetary unit in our country.

The CBBH Governor, Senad Softić, said that the convertible mark is marking a significant jubilee, 20 years since letting the first KM banknotes in circulation.

-One thing was certain for all these years – the value of the convertible mark, expressed in EUR, has never been questioned. The CBBH puts in and withdraws from the circulation the banknotes of domestic currency, convertible mark, while adhering strictly to the rule of Currency Board defined by the Law on Central Bank of Bosnia and Herzegovina. Therefore, we can say that the introduction of the convertible mark was not only good, but it was decisive step in creating the monetary system and maintaining the stability of the currency, Governor Softić said.

The promotional spot related to the production of the KM banknotes issued in 2017 can be viewed on the website of the CBBH, www.cbbh.ba.

The General Manager of the “JP BH POŠTA” d.o.o. Sarajevo, Mirsad Mujić, also addressed to the attendees. He expressed the pleasure with the “JP BH POŠTA” d.o.o. Sarajevo support to this event.

-In cooperation with the colleagues from the CBBH we decided to issue the postal mark dedicated to the convertible mark, whose introduction in the whole territory of Bosnia and Herzegovina has confirmed that stable monetary policy underpins any other stability in the country. This is significant event for Bosnia and Herzegovina and all its citizens. The “JP BH POŠTA” d.o.o. Sarajevo will continue to strive to be part of each success story, being positive and bringing the benefit to Bosnia and Herzegovina, as  this jubilee is – said the General Manager of the “JP BH POŠTA” d.o.o. Sarajevo, Mirsad Mujić.

On this occasion, Mujić handed over to Governor Softić the first copies of the postal mark „20 years of convertible mark“. Along with this, the attendees could visit the permanent exhibition of banknotes and coins, placed in the foyer of the CBBH premises.

The convertible mark is a legal tender in Bosnia and Herzegovina, and according to the Law on Central Bank of Bosnia and Herzegovina it is pegged to EUR, so every issued banknote has coverage in euro. In circulation are following KM banknotes with five different denominations: KM 10, KM 20, KM 50, KM 100 and KM 200. There are also KM coins in seven different denominations in circulation: F 5, F 10, F 20, F 50, KM 1, KM 2 and KM 5. International code for convertible mark is BAM.

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