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Country Profile - Bosnia and Herzegovina

COUNTRY OVERVIEW

Bosnia and Herzegovina is situated in the western Balkan Peninsula of Europe. The larger region of Bosnia occupies the northern and central parts of the country, and Herzegovina occupies the south and southwest.  Its countryside is home to medieval villages, rivers and lakes, and the Dinaric Alps.

General Information:

Capital: Sarajevo

Language: Bosnian (official) 52.9%, Serbian (official) 30.8%, Croatian (official) 14.6%, other 1.6%, unspecified 0.2% (2013 est.)

Religion: Muslim 50.7%, Orthodox 30.7%, Roman Catholic 15.2%, atheist 0.8%, agnostic 0.3%, other 1.2%, undeclared 1.1% (2013 est.)

Currency: Bosnia and Herzegovina Konvertibilna Marka (BAM; symbol KM).

The Euro and US Dollar are the preferred foreign currencies. The Pound Sterling is rarely used.

Credit cards are generally accepted in top hotels and restaurants, and some gift shops. ATMs are becoming increasingly common in cities like Sarajevo, Mostar and Banja Luka, and even smaller towns. However, an emergency supply of cash is still advisable. Bosnia and Herzegovina is mostly a cash-only economy and traveller’s cheques are exchanged only at select banks.

Cryptocurrency: The strongest factor for Bosnia and Herzegovina is the legality of Bitcoin. There are currently 2 ICOs based here, however 21 ICOs have forbidden residents of Bosnia and Herzegovina from participating in their crowdfunding projects.

GMT: (+) 1

Bosnia and Herzegovina declared sovereignty in October 1991 and independence from the former Yugoslavia on 3 March 1992. A devastating three-year war ensued, the consequences of which Bosnia-Herzegovina is still recovering from. It is now an independent state but remains partially under international oversight under the terms of the 1995 Dayton Peace Accords.

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