Mr. Thomas Tomsich, Member of the Executive Board of the Hypo Alpe-Adria-Bank d.d. and FIC Board of Directors member, was elected into the Committee for Banking Reform of the Banking Association within the USAID Project PARE.

The USAID Partnership for Advancing Reforms in the Economy (PARE) assists the government of Bosnia and Herzegovina (BiH) with its growing, unmet demand for targeted and timely technical assistance in the financial services sector.

PARE is designed to strengthen the regulatory framework, for the financial services sector, improve the financial administration of public resources, and improve the enabling environment for private-sector investment and growth through the provision of targeted, demand-driven assistance.

PARE serves the financial sector in BiH including banking, insurance, central banking, leasing, factoring, pension reform, and capital markets with the goal of strengthening regulatory system for the financial services sector in BiH, improving performance, and standardizing regulatory framework by implementing European Union standards, principles, and best practices.