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Body of the Stock Exchange

According to the Capital market Law, Supervisory Board of the Stock exchange has 5-9 members.

In the Supervisory Board shall be appointed:

  • a) one representative or employee of the issuer whose securities are listed on the Official market;
  • b) one employee of the issuer whose securities are listed on the Free market;

The limits for membership of the Supervisory Board:

(1) In the Supervisory board of the Stock exchange cannot be appointed:

  • a) an employee of the Stock exchange;
  • b) an employee of the Registry of Securities of FBiH;
  • c) member of the legislative, executive and judicial authorities in Bosnia and Herzegovina;
  • d) owner more than 10% of the securities of the Exchange member or related entities.
  • e) and employee at the Exchange member.

The Supervisory Board of the Sarajevo Stock Exchange:

  • Haris Kuskunović, president
  • Mirsad Škaljić, member
  • Arif Tuncay Ersoz, member
  • Drago Vukoja, member
  • Sead Selman, member

The Management Board represents the company and leads the company's operations.

The Management Board consists of one or more persons who need not be members of society. They are appointed in the manner and for the period specified in the founding act or Statute. In case when management has more members, their powers and responsibilities is regulated by the founding act or Statute.

The Management Board of the Sarajevo Stock Exchange:

Dr  Tarik Kurbegović
Almir Mirica
Executive director of Trading and Surveillance Department
Tahir Taslaman
Executive director of Information and Technologies Department


Stock Exchange Committee decides in proceedings to determining the existence of violations of Rules and may impose any of the measures set out in the Rules for the responsible persons.

Article 189.

  • (1) Stock Exchange Committee has a chairman and two members, and three deputy members appointed by the Supervisory Board of the Stock Exchange.
  • (2) For members and deputy members of the Stock Exchange Committee is appointed by a representative of the Supervisory Board and the Management Board and one representative of the Self Regulating Organisation of Professional Intermediares.

Stock Exchange Committee members:

  • Almir Mirica
  • Mirsad Škaljić
  • Emir Imširović

Listing Board is a special organ of Stock exchange which is responsible for:

  • - listing of securities on the Official market,
  • - changes in the Official market ,
  • - halting of trading in securities which are listed on the stock exchange when there was no trading for more than ten (10) working days
  • - taking measures on issuers listing on the Official market which violations the Rules in terms of reporting,
  • - exclusion of securities from the Official market.

Listing Board members:

The Board has five (5) regular members and three reserve members. Seven (7) members, who fulfil conditions, are appointed by the Supervisory Board for a period of four (4) years with the possibility of re-appointment, and one (1) regular member that is employed at the Stock exchange and appointed by the Management Board.

For regular and reserve members can be appointed a person with a university degree and with a notable reputation in the area of finances and corporate law.

  • Doc. dr. Tarik Kurbegović
  • Prof. dr. Hasan Muratović
  • Zijad Belekić
  • Adnan Bunjo
  • -Prof. dr. Simić Milić
  • - Prof. dr. Adisa Omerbegović-Arapović
  • - Prof. dr. Suad Kurtčehajić
  • - Femil Čurt, lawyer

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  • Address: Đoke Mazalića 4/I,  Sarajevo

  • Phone: (387) 33 251-460

  • Email: contact@sase.ba