During 26-28 March 2024, a delegation from the Seized Property Management Agency of the Federation of Bosnia and Herzegovina (hereinafter - FAZUOI), headed by the Acting Director of FAZUOI Emir Basić, visited Kyiv upon the invitation of ARMA.
As part of the visit, on March 27, 2024, ARMA management and representatives met with a delegation from FAZUOI, including Hanadi Karic, Head of the International Cooperation Sector, and Adnan Durakovic, Head of the Property Management Sector.
The Head of ARMA spoke about current priorities and plans for the development of the Agency's areas for the current year.
"Our work is even more important in the context of russian aggression. ARMA plays a key role in ensuring compliance of international sanctions imposed on individuals and organisations associated with the russian federation. The effectiveness of ARMA's work determines how quickly and to what extent the state will receive additional resources to strengthen our country's defence capabilities. Therefore, we are pleased to learn from the experience of our international partners and share our best practices in the field of asset tracing and management," said Olena Duma.
For his part, Emir Basić noted the importance of the long-term partnership between ARMA and the the Seized Property Management Agency of the Federation of Bosnia and Herzegovina.
During the meeting, Emir Basić made a presentation on the activities and main achievements of FAZUOI, founded in 2017.
The agency, among other activities, manages such assets as hotels, real estate, and businesses.
An important example for Ukraine and ARMA in particular is the experience of managing seized hotels.
For example, FAZUOI has provided Ukrainian refugees with the opportunity to live in a hotel they manage on a full-funded basis with the possibility of employment. This is one example of the Federation of Bosnia and Herzegovina's support for Ukraine and its people.
The Head of ARMA thanked the FAZUOI delegation for their practical assistance to Ukrainian refugees in these difficult times for Ukraine and its people, and informed about ARMA's initiative to amend Ukrainian legislation to use sanatoriums for the rehabilitation of military personnel.
ARMA representatives were provided with information on the peculiarities of managing monetary assets, managing and selling other assets, performing professional valuation of seized property, selecting managers, etc.
Hanadi Karic informed that FAZUOI is authorised and conducts regular training for judges, prosecutors, and law enforcement agencies in the field of financial investigations and confiscation of property derived from criminal activity.
"During yesterday's presentation, we were inspired by the outstanding achievements of your Agency under the skilful leadership of Mrs Olena Duma. Many of the strategies presented for the management of confiscated assets are promising for implementation in the Federation of Bosnia and Herzegovina, and we look forward to explore these avenues further," said Emir Basić.
Given the wide range of issues of mutual interest, an agreement was reached to conclude an international interagency Memorandum in the near future.
In turn, Emir Basić invited the Ukrainian side to pay a working visit to the Federation of Bosnia and Herzegovina.
In the context of cooperation with the Federation of Bosnia and Herzegovina, the issues of post-war reconstruction and mechanisms for bringing to justice those responsible for war crimes are extremely important.
The practice and experience gained in the process of post-war reconstruction and punishment for war crimes against Bosnia and Herzegovina will be used by Ukrainian authorities, in particular the ARMA.
Head of ARMA expressed her gratitude to the Government and people of the Federation of Bosnia and Herzegovina for their strong and comprehensive support for Ukraine.
