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External Relations | Relations with the Bank for International Settlements

Relations with the Bank for International Settlements

The Bank for International Settlements (BIS) is the oldest international financial organisation, established on 17 May 1930. Its head office is in Basel, Switzerland. The Bank is a joint stock limited liability company, owned and managed by central banks with voting power proportionate to the number of their shares.

The primary role of the BIS is to foster international monetary and financial cooperation and to intermediate in financial transactions between central banks.

The National Bank of the Kingdom of Yugoslavia became a member of the BIS in 1931. The participation of the former Socialist Federal Republic of Yugoslavia in the BIS’s share capital was frozen in 1992, and the National Bank of Yugoslavia re-joined this organisation in June 2001.

Pursuant to the decision by the BIS Board of Directors, the National Bank of Serbia succeeded the membership of the National Bank of Yugoslavia with 2,920 shares.

In May 2012, the National Bank of Serbia joined the Central Bank Governance Network within the BIS, the primary goal of which is to facilitate the flow of information contributing to greater efficiency of central bank operations.