Ognjen Vlačina

Growing railway use important to EU wide decarbonisation plans.

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EBRD Invests €15 Million In Intesa Sanpaolo Banka d.d. Bosnia For Green And Digital Initiatives The European Bank for Reconstruction and Development (EBRD) has announced substantial funding for Intesa Sanpaolo Banka d.d. Bosnia and Herzegovina, totaling €15 million. This financial support is divided into €7 million under the SME Go Green Programme and €8 million under the Go Digital in Bosnia and Herzegovina Programme. Funded in part by incentive payments and technical assistance from the European Union, these initiatives are aimed at bolstering green technologies and digital transformation across Bosnian SMEs. The €7 million loan from the SME Go Green Programme will facilitate investments in energy-efficient and renewable energy projects. A significant portion will focus […] Read the full story here: https://lnkd.in/gPTzBQDe #solarenergy #alternativeenergy #solarpv #pvsolar #photovoltaic #cleanenergy #cleantech #climatechange #middleeast #africa #india #asiapacific #asia #bosnia #europe #europeanbankforreconstructionanddevelopment #greeneconomy #herzegovina #renewableenergy

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Acts of kindness: which ones to remember and which ones to forget. The author once was at the receiving end of kindness from Banka bhai years ago. When he asked Banka Bhai if he remembered the act of kindness of feeding delicious rosogollas to a starving boy ten years ago, Banka bhai responded, “No, I don't recall. I don’t try to remember every incident, but I try not to forget some!” That sounded like a puzzle. So, the author curiously asked Banka bhai, “What are those you try to remember and forget?” “I don’t typically remember the incidents where I helped someone. And I never forget the ones where I was at the receiving end of kindness?” Isn’t this the opposite of what most people do? So, the author was again curious and further probed,” Why is that Banka bhai?” “It is a simple principle. If I remember every little help I do for others, I will develop and expectation from them, and will be unhappy if the expectation is not met. On the other hand, if someone helped me, I never forget. Because, being grateful is the shortest route to happiness”. What a profound lesson and a secret to happiness. This is an anecdote from the wonderful book, “The Scrapper’s way”, authored by former CLO of TCS, Damodar Padhi. The book is filled with such wonderful gems of wisdom and beautifully articulates the author’s approach and philosophy towards life – both personal and professional. The Scrapper’s way is an inspiring journey of the author’s life story – from humble beginnings, how through sheer hard work, education and a great value system, he made a mark at two iconic companies in two continents – as an Executive Engineering leader is the General Electric in the United States and as a Chief learning officer in Tata Consultancy Services in India. The Scrapper’s way is an inspiring life story with many stories wrapped into it. 

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Must read, deep trends overview by David Gyori!

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The recent preliminary ruling by the ECJ and the decision by the Supreme Administrative Court of Lithuania hold significant importance as they address the application of the ambiguous concept of electronic money. The ruling may have clarified that holding money in a payment account for an unlimited period does not constitute issuance of electronic money. However, other critical points include: - The exact nature of electronic money remains unclear, particularly the distinguishing features that set it apart from a mere entry in a payment account, considering both are electronic. From my experience, supervisors across the EU struggle with the practical application of this concept. Some other national competent authorities (NCAs) have adopted a similar position to ours. Initially it was based on the European Commission's QA, this guidance was subsequently removed from their official website. - This case is timely, given the EU’s ongoing discussions about the next iteration of the Payment Services Directive (PSD3) and efforts to more clearly define electronic money and related services. - The initial BoL's decision concerned not only electronic money issuance question, but AML violations as well. Those were confirmed by the court. - The enforcement measure of license revocation was reduced to a four-year license suspension, which the courts deemed reasonable. Therefore, the enforcement measure was not completely canceled. - Interestingly, the court-ordered restoration of the license became effective within two weeks. It is unrealistic to meet the license requirements in just two weeks after four years of inactivity. - Most importantly, we remain open to fintech companies with viable business models, led by fit and proper individuals who are committed to investing in compliance and local presence.

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Some thoughts on albania... monetary issues. Althought resilience is not only from requests to banks... #albania #ekonomiavendase #inflacion #rritjeekonomike #kurskembimi #politikamonetare Against the backdrop of strong credit growth, the Bank of Albania’s recent decision to increase the countercyclical capital buffer is appropriate, and introducing a systemic risk buffer could further enhance resilience. Efforts underway to strengthen consumer protection regulation, including for non-bank financial institutions, are key to preserving the integrity of, and trust in, the financial system. Overall, preserving the independence of the Bank of Albania is crucial to safeguarding price and financial stability.

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Will U.S. Bank come to #Serbia in the future? There are many international banks operating in Serbia, but there are no US banks providing services in the country. Komercijalna Banka AD, a state-controlled bank, had the best correspondent relationship with U.S. banks. In 2020, Komercijalna Banka was acquired by Slovenian NLB Banka, leading to the merger of NLB Banka and Komercijalna Banka into NLB Komercijalna Banka. According to report published by European law firm Kinstellar, over last few years Serbia's banking sector faced challenges amid global economic conditions. On the other hand, regional banking groups OTP Group and NLB d.d. are openly ambitious to further grow, and the same goes for domestic AIK Banka. Intesa Sanpaolo and UniCredit are still keeping up the pace with the latter group through organic growth. Erste Group bank officially expressed the same intentions. #Rumor has it that at least 4 banks are currently looking for the new owner in the Serbian market. Many banks operate in multiple countries with a global physical presence. Bank of America has local offices in more than 35 countries around the world and provide access to more than 140 currencies across 200 countries and territories. Bank of America's Global Corporate and Investment Banking has its European headquarters in Dublin. Whether they will start to operate in any country or not, largely depends on overall global and local political and economic conditions.

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"It’s hell outside." - #italy: Red Alert in 7 cities on Thursday - #croatia: 28°C at dawn - #albania, #greece and #bosnia: forest fires - #kosovo: average temperatures have increased by 2.5°C since the 1980s - #czechia: temperatures in Prague reached 34°C on Wednesday - #romania: street thermometres in Bucharest showed 42°C - #serbia: record temperatures so far this summer, with thermostats at 35°C on Thursday https://lnkd.in/enYRA6PG #climatecrisis #heatwave #europe

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UNICREDIT INTRODUCES TACTILE DEBIT, CREDIT CARDS FOR VISUALLY IMPAIRED UniCredit, in partnership with Mastercard, is upgrading its entire line of debit, credit, and prepaid cards to the Mastercard Touch Card™, which features tactile notches to assist blind and partially sighted customers. This new card design helps visually impaired users to distinguish between different cards by touch. Currently available in Italy, the rollout will extend to all UniCredit clients across twelve countries throughout 2024, affecting about 20 million cards. This initiative is part of UniCredit's commitment to inclusion and is aligned with their ESG principles. Additionally, the cards are made from recycled PVC and feature a Mastercard Sustainable Card Badge, indicating their sustainability. Both UniCredit and Mastercard emphasize that this project highlights their focus on inclusive, consumer-centric solutions that cater to the needs of all customers, particularly enhancing accessibility for Europe's 30 million blind and partially sighted individuals. #financeinclusion #mastercard #fintech #unicredit #payments #banking #finance #financialinclusion Learn more about the Touch Cards: https://lnkd.in/dqFqyA2R

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Montenegro 🇲🇪 has stepped into a new era of open banking with the launch of the PSD2 directive! 🌟Huge thanks to the phenomenal project team at NLB Bank 💙 and Asseco Daniela Angelic Viktor Dimitrovski Aleksandra Čolaković Vukotić Simon Sinistaj for their tireless efforts in bringing this 🇪🇺 directive to life in NLB! #PSD2 #NLB #Montenegro #payments 🚀🌍

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Growth of digital banking in Serbia: dominance of mobile transactions Read a news with Belgrade family office comments https://lnkd.in/dghNFaHf #Serbia #Bank #Investment #Invest #Belgrade #BusinessSolutions #BusinessStrategy

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A World Bank report highlights that 23% of Albanian households depend on remittances, which form 18% of their income, with high transfer fees prompting many to send cash directly. #Albania #Remittances #WorldBank #Economy #FinancialNews 💸🌍 https://lnkd.in/ddssFvSN

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Today Albanian #ecommerce society putted the first kilometer stone to a very long-lasting and important journey. Giving great efforts to the work done to standardize #onlinesales and staying still to the informality and fraud, the Albanian E-Commerce Association brings here an important instrument which brings more #trust, #guarantee and #protection for online trade #consumers. TRADE SAFE, TRADE WITH TRUSTMARK CERTIFIED ONLINE BUSINESSES !!!

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Fibank Credit Cards – Up to 25 thousand EUR in your pocket, in 3 days! Fibank Credit Card is a useful money management tool that you can use to pay for goods and services, making contactless payments in stores, hotels, restaurants, travel agencies, etc. It can be issued in three currencies: LEK, EUR, or USD and Fibank offers no maintenance commission for the first year to all its new cardholders! Fibank in collaboration with VISA is providing to all its new cardholders a Credit Card ready in 3 days and with zero commissions worldwide! This credit card is an extremely useful extra pocket cash with a limit of up to 25.000 EUR. Fibank credit cards are valuable travel companions. They offer peace of mind when you’re on the go, allowing you to pay for flights, accommodation, and other travel expenses. Plus, you won’t need to carry large amounts of cash. Whether you’re buying groceries, clothing, or electronics, a credit card simplifies the process. You can make purchases without worrying about having enough cash on hand. These cards allow you to use also your own money to pay in retail outlets that require payment by credit card. It’s like having the convenience of a credit card while using your own funds. If you hold Gold cards from Fibank, you’ll enjoy exclusive offers and privileges. These may include discounts, cashback, or other advantages. “This is absolutely the best product with extra convenience for every cardholder in Albania and we are proud to offer it at Fibank. Fibank Credit Cards make your life easier!” – expresses Bozhidar Todorov, CEO of Fibank Albania. The credit card limit can also be applied as a cash withdrawal from ATM-s and Fibank does not apply any commission for online transactions or at any point of sale inside and outside Albania. All Fibank cardholders enjoy no restrictions on the limit and number of transactions for their card usage. Repayment of the card is extra convenient through small monthly installments starting at a minimum of 5%. With our Fibank 3D security, our customers enjoy maximum protection for all their online purchases. All Fibank Credit Cards are contactless utilizing tap & go features. https://lnkd.in/dEVPTfNM

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Two European banks with major operations in Russia — facing mounting pressure to reduce their exposure — are adopting markedly different approaches to regulatory demands for action. Italy’s UniCredit and Austria’s Raiffeisen Bank International AG continue to operate profitable units in the country despite multiple public pledges since the invasion of Ukraine to wind them down. Find out what different tacks each bank has taken in Giada Zampano's article below ⬇ https://lnkd.in/e5TSMxf9 #Russia #AMLCFT #AML #Ukraine

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Updated in June 2024, this is an interesting risk #policy covering reputational risk where Unicredit Group defines as “Reputational Risk” the current or prospective risk of #earnings or capital decrease arising from the adverse #perception of the image of the #financial institution on the part of customers, #counterparties (also including debtholders, market analysts, other relevant parties, such as civil society, NGOs, media, etc.), shareholders / investors, regulators or employees (#stakeholders). Under this policy, ESG-related and Litigation risks are included. Two categories of reputational risks are identified namely Primary and Secondary. More details in the attached policy. #GRC #riskmanagement #reputation #ESG #reputationalrisk #riskmitigation #internalcontrol #ethics #values #trust #professionalism #integrity

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