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paseojy meopuje ynpa*lbatua
y
6auryapcm6y
y
ycJro7uMq nojattaHe KoHKypeHmHocmu u pa36oia uHoqamuqHoz npucmynq Ha cnoJlceHoM
6 aurcapcrcon
u Quuaucu:i crcou mplfl:uwmy.
Ramezopuja 19.12.
,/
Eauruh, !,. ,,Hoea Kpemarba
Barra Jlyra, crp. 91-99
y
opzqHu3aquju 6auxapcmea".ll @uHpap. 12(2005),
Pal ce 6anu npo6Jrel{aruKoM rnporvrjena y opraHl,I3aqLronoj crpyrTypl4 6atraxa rao
p*ynrara pa:noja vrroBarlrBHlili. [ocJIoBa, npolrjeua y ronrypeuqujra pr AoMeHy
perynaqzj e y 6anr<apcrey.
Canpeueno 6anxapcreo KapaKrepr.rme cJloxeHa opraHI43aIIrIoHa crp)r(Typa rlana
yH[Bep3anuux 6auxapcKrrx KoH]r:rroMepara cuoco6ru.rx ra Ha je4Horvr ujecry, cBaKoM
uojegranaunou xlujen:ry o6ane 'qlrraB ru.rs (flEuancujcrux aKTlIBHocrt4 KaKo rI3 c$epe
rolrepuujalHor 6aHxapcrBa, TaK(c Ia3 c(fepe r4HBecrlrlluonor 6anrapcrBa, oclxrypalba I{
cruqHo.
Y qury orrcraHKa Ha orrrrpoM, Kot{KypeHrnou Sunaircujcrorvr rpxsl[ITy z g6or cMalbelba
upo(pnra6nJrHocrrr rpaAuurroHaJrHr.rx 6anxapcrux aKTpIBHoctu, 6aHre cBe Bulrre yJla3e y
HerpaAr.rrrrronaJrHe 6aHrapcre arcrnBHocrr,r Kao IrITo cy flocJloBarbe c xaprajaua o4
npraje4uocru, tpogaja noJr[ca ocr{ryparba, cKJranalbe nocJloBa saje4Hrauror ynaralba ca
He3aBr,rcHrdM ronruanuiava roju HLIcy IIoA crporoM ApxaBHoM peryJIarHBoM. Oeo
(pynxquonalHo rpecrpyKr)'r,rparbr3 HeMuHoBHo BoArr opraHH3aIIuoHoM [pecrpyKirYuPabY,
KaKo y 6alrunnoj yHyrpamrboj oprauusaguju, raKo H y o6nlqranra rloBe3l{Barba ca ApyrI,IM
6anxapcr<nv u ue6anrcapcKr.rM c1'6jerruua. V cnujery yoqaBaMo ren4elrqujy pa:noja
cr.rcreMa Sunujw:e v .qpyrr4x rl6lara ycJryxHrrx cepBuca Kao Inro cy crIcreMI,I
,,eJreKTpoHcxt'rx $unr.rjalao' ruro jr: 4oupr.rnrEjero npu6rux(aBarby xrujeuruua, erouour,rjn
no uo4pyrjkrMa vr cMarberby rpc)mKoBa. Ycnoxrranane opraHLI3aIIr{oHe crpyKType y
cnujery je ycujepeH y npaBrly clrlaparba SrEnaucujcKo ycJIyxHLIX xoJIALIHT xorrrnanraja u
cyncu4r.rj apuux 6anr<ra.
Oeaj pad npedcmaema HayqHy aHcutu3y npoujeuay opeaHusaquouoj cmpyKmypu 6auarca y
p azouj e uuu mp)rcuuHLLM y c n osuilo onp eduj e /b eHux p asuqumuJvt Q arcmopwna yrnut4aj a y
Ko^4napamu6Hy aHanu3y cmatua y 6aHKapcmey Bocue u XepqezoeuHe y doaeuy npoujeua
op z aHu3 aquoH e cmpyKmyp e.
t
Kamezopuja 19.12.
PaAonu nocruje rocJreArber n:6iopa/pen:6opa
(Haeecmu cee padoee, damu rbuxoe Kpq,anK npuKa3 u 6poj 6odaeq czpcmaHux no xameeopujcwct us HraHa
19. uau uaqua 20.)
,/
Bauruh, [. Ca,rpeueuo 1icturcapcmso. Eronoucr<pr $axynrer Vnunepsurera y
Banoj Jlyuu. Earra Jlyra. I'pa(porr,raprc. Jlar<raruu. 2012.
Kruara noA Ha3r4Boru .,,Caepelrerro 6asr<apcrBo" je nayrna voHorpa(paja u [peAcraBJba
pe3ynrar AyroroAr4rrrm,er rrcrpaxrrBrrrba reuAesr{uja y o6racru 6aHrapcrna y 3oMJbaMa ca
pasnujenorra rpxullrHoM npr.rBperloM y KoMnapaquja ca 3eMJbaMa ca HlrxHM cre[eHoM
eKoHoMcKe pasnnjenocrr4, HapaBnro r4je je rauano eMvrclra u 6utto ruoryhe. Ilpe4cranra
caBpeMeHor 6aHrapcrBa ca aKIIoHroM Ha
caBpeMeHe nporujeue u
rrocrroBarbe 6anar<a y pasnujenoj rpNlaruHoj crpyr<rypn'
ren4euqujy y nocnoBalry 6anara tl y o6lacru perylaquje I{ HaA3opa IIa KoJy Je aKryenHa
y roM ronrexcry je o6pa$eu mupl4 pacIIoH
Kpr,r3a IlMana Bpno BeJIIIKu yr:aqaj.
F il;;.pt*;;*F;A-t;ilc;rieoa#"ry
re
raucrzryqraja, He caNro caBpeMer{o KoMepqujanno damapctno, eeh !I r{HBecr}IIII4oHo I'I
pr [rIapI4Ha oBor oncexHor
UeHTpanHo 6anxapctnro. Bpelrerrrcrra acIIeKT, ly6una
qecro y je4nona
Lrcrpaxr,rBar5a caBpeMenrax 6aHrerlrcKrrx crlcreMa cy uan olrloryhznil ra
r.rcroMr rpeHyrKy rrparrrMo reu4errquje y pa3nuquualur 6anrapcKr{M cllcreMl{Ma, peqplMo
Cje4rameHrax Aueparmrax ,{pNcana il Eepouclcoj yuuju, AelrraBarba y ceKropy
6ocancroxepqeroBaqror 6auraporBa r{ HiIIler HerlocpeAnor oKpyx(erra, 3arHM y Jauany
plcroplljcKoj aHanI43I{ Aolrrno
r4Jrr4 rraK Pycuju. 3axna;syjyhu rorrnaparl,IBHoM nplacrylry r
ce Ao BeoMa sHauajnu:x pe3ynraril y norneAy rlepqe[Ill4je caBpeMeHor 6auxapcrBa Kpo3
nou[parbe rpeHAoBa y o6nacru fio6orsruaealba KBaJII{Tgra KaKo KoMepq}IjanHor raKo I{
prHBec,Tr.rqhonor 6anxallcKor rrocJroBarba Kpo3 arlcrpaxuujy pLI3LIKa I4 TpeHAoBa y o6lacrla
perynaquje u cynepnuanje jacuo ge(punuuryhu ,,uMafl{HapHy rpaHl4rly naprnepcrBa
Apxane u 6auxapcrl4x I4HcrI'ITyra".
Kamezopuia 19.3.
I0 jodoea
./
Bamuh, [. ,,Woza ocu?yjootua denosuma y npeqa3uJtaucetuy 1aurcapcrce Kpuse".ll
Acta Economica. 12 (20t0.1, Elconoucrpr Qar<y.nrer, Bama Jlyr<a, ctp.293-323
Onaj paa rpeAcraBJba 4y6oro ca4pxajan n cyIxrI4HcKLI KpI4THqaH ocBpr [Ia feHe3y
pasnoja r4 MoAene ocuryparba Aerro3r,rra y cnujery r{ KoA Hac, [o3LITIanne e(ferre rr,tlxoBor
4jeronalra, aJryr 14 clatiocru r4 Molyhu rprrcryrr y rbr.IXoBoM rlpecrpyrrypl{parby y rpaBIIy
Iactry]beIra rlr{JbeBa et5or nojux u nocroje, a ro cy 3aurrl{Ta uHTepeca AerloHeHara,
orryBarbe nonjepema 'y 6aurcapcr:r4 crdcreM u o6*6je!erre $unancujcre cra6llnHocrl4
3eMJbe. Pad je npedcr,naemeH H6t Hayvuou cKyny nod uasueottt ,,Vcro6u u o?paHwtetua
npeeladaaarua e$ercama znodaryHe Kpu3e" y opzaHusaquju Ercououcrcoe fi,arcynmema
Vuue,epsumema y Earu,cj Jlyqu, Qe'6pyapa, 2010.
llocrojarre
MexaHr{3Mra ocuryparufl Aerro3r4ra
y
3eMJbu
je aucoryrHo
orIpaBAAHo aJILI
y
6aHxapcror cr,roreMa u AerroHeHara y ycnoBI,IMa Hacrylarba cplcreMcKof
pr43nr(a. flperuuje ocnryp.uba lauana6v ce upuje cBera rpe6ane $opuuparu y 3aBHcHoclI4
or creleHa yKyrrHor Hecr4creMorKor pr.r3r.rKa cBaKe 6anxe Kao AerIo3HTHe llucrnryuuje
uoce6uo, y cMrrcny 4er o4pefeurr crerreH Hecr.rcreMoKof pLI3LIKa HocH oApeleH1y upernrnjy
ocuq/pana ga 6anrce roja nponolpqrroHaJrHo pH3HKy pacre. Ha onaj HauuH 6ra ce 6aHre
cMrac.fly 3altrTr.rre
M0Tr.rBr.rcaJre Aa BoAe 3ApaBy rrocJroBHy nonr.rrr{Ky ca onTr4MurJrHr,rM cTeneHoM pa3HqHocTr.x
cBor rrocJroBarua, a rrHTepBeHqujzr 4pNanuux areuquj a 6u 6utn Mr.rHopHa.
Kala je y
crona al(eKBaruocrr4 K€rrrlrrrura, rbeHa ynora y oAp)r(aBarr,y
6aHarcer je ueynl.rrHa a ne rpe6a je eesaru sa Qyuxqujy MexaHu3rlra
rrr4Tarby
coJIBoHTHocrn
ocuf)/parba Aeno3I{Ta. Cee 6aHK,e rpe6a Aa oApxaRajy crouy aAeKBarnocrr.r Karrr.rrun y
rponacaHoM HLIBoy IIpeMa cnojoj pH3HKorroH4eprEcanoj aKrIrBr4. Oua cava no ce6r.l
rrpeAcTaBJba KJbr{H}t T(3MeJb 3aIII'rI{Te AeIIOHeHaTa
lr rroBjepl4nalla 6aHKe oA Hacryfialba
HexeJLeHlIX eoeKara lbeHol fIocJIOBarba.
florpe6no
je cranno npahel5e rr flpoqieHa
npr4BpeAe
y qjelunu,
HLIBoa pI,I3IrrIHocrI4 6aHKapcKor cllcreMa u
ca jacHo pi*pabeHr.rM cueuaplljeM 3a cBaKy KoHKperHy cl4Tyaq[jy
(no yrire4y ua [[IsetcK]r).
Tesa 4a je 6anxa ,,cyBI{IIIe Be,JI14Ka la 6u 6rana nrarcnugupaut' y UurY 3aIIITpITe
6aurapclcor cI4cTeMa nuje oupan,rlana jep ce noAcTurle MopanHI'I Xa3apA LI yluqe Ha pacT
Hecr{c1eMcKol pLI3IdKa., IIITS AyIopOuHO MOxe A?I AoBeAe Ao gy6rux cHcTeMcKI'tx
nopeNrehaja.
Krsyuuu Kpr{repr{j r4r{rr3pBeHrlr.rje 4pNane y 6anrana nyteM cBojI,IX MexaHI{3aMa rpe6a Ia
6yle la:1E je nopenaehaj no.q .qejctnoM cr,rcreMcKor IIJILI Hecl{creMcKor pI{3I{Ka, aIJe Ia ilkr
je onal ,,Ber[Ka" lutu ,,vart'. ,{zper<rua enr,IMI{HaIIuja 6onecnof rKI{Ba na npujervre, 6ulo
MoAenHMa $ysraje, arcensuqraje, KoncoJrrd,{aquje I4JM rraK nlaxnu4aqllje,rrav ys o4peleue
HeraT,LrBHe e$erre, AyuoporrHo h,e yeenzrO nO6O;rUraTlI AI4CIIIIII,IHy OCTaJII4X 6agaxa n
Apyrr4x rplrflrrxur4x cy6jercara n cnpuje.ruru gyltse 6aurapcKe H cl{creMcKe KpI'I3e.
"r4
Onaxan KoHrlerrr Aorrpr{Hocr{ 3JIpaBoj Tp}KLIIITHoj KoHKypeHII}Ij}I Lr ,4I'IcqnrIJII'IHI'I
o6es6 j ef yj e cra6unnocr )'Kyrgor 6anrapcror u SuHancuj cror cLIcTeMa.
Pesynmamu do Koittx. ce y pcldy doultto nomepfiyjy nocma*lbeHy xunomesy da je
nocmojatue l4exaHlt3JvrT Ocuzypa'tua denosuma y seJvtlbu ancolymHo onpaedauo padu
3eutmume 6aurcapcrcoe cucmeila u denoueuama y ycnoruMa Hacmynatua cucmeMcKoz
pusuqa ys odpefieue ua,denapne u'oduQurcaquje u3HeceHe y pady u Hecyurbueo dajy HayqHu
donpmtoc paseojy MoH€ttapHe mettpuje u npaKce y pasyuujeearay doueHa uHcmpyMeHamd
sautm'ume od cucmeac,Koz pu3uKat.y o1nacmu daurcapcmea.
Kamezopuja 19.12.
6 6odoea
,/
Barnuh,
[,.
,,)'spouHo-nciclbeduqHo non%aHocm nojaqe QunaucujcKttx Kprca u
tvraKpoeKoHoMC,Kux $arcm'opa orcpytrcerua".ll 36opurar paAoBa Emouotucr<or
(par<ynrera y J4r;ro.ruou Cerpajeny 5 (2011), flane, crp.147-170
Onaj pa1 ucrpaNyje y3poqHo-rrocJbeAuqHe Be3e HacraHKa I,I pa:noja
oAHorlHo $uHancujcKrrx Kpr.Ba
fl MaKpoeKoHoMcKlix
eKoHoMcKI,IX,
(parropa oKpyxelba Kao llrro cy
eKoHoMcKr{ rlraKJrycu, eHepferc)rs{ $axrop 14 Saxropu noJII,ITI,IqKor
oKpyrrerba saqraje pI *baxoB yuaqaj ua nopentehaje y cnjercxoj eronolvrlaju.
I,I eKoHoMcKor
Eronoucxe, o4HocHo $aHancujcxe Kpr,r3e upe4cranrsajy HefarI,IBHe eKoHoMcKe
ocqn.rraquje cucreMsKrf,t yrrv He,cr{creMcKor KapaKTepa roje Mory Aa H3utsoBy .uy6oxe u
Ayropor{He nopervrah.aje roju ce y KparKoM poKy HerarI{BHo oApaNanajy Ha onIrIrH
$unancujcxy c'ra6umrocr r{ 3alocJreHocr, uru y AyroM poKy AonpnHoce
npaharry eKoHoMcKor cr{creMa rra 3ApaBe ocnoBe r.r cra6ranan pacr I{ pasnoj. Cuara
eKoHoMcKa Kpri3a H crarHarluja rraronjertrTaBa [otreraK je4uor HoBof qLIKJIyca, je4auor
HoBolf raJraca r4HoBarnBur4x rrponleca xoju he Aonecru Ao eKoHoMcre npeopjenraqr.lje,
eKoHoMcK[r pacr,
HacTaIIKaHoBlIxTp)KLIIIITaI,IHoB}I]KIIpo}I3BoAauJII,Inpoqeca.
je Bpjrro cJroxeH rou6unaropl4rmll crlJrer pa:noja eKoHoMcKI4x
{yNuraur<a Kp}r3a 21. nnjerca
je yc6eg [opacTa TpolxKoBa
rlr,rKJryca, eHepreTcKl4x (fanropa u [oII'ITpIqrrax yrnqaja nojn
Lr uraiena 14 cMarbeg,a o6uua [poI{3BoAILe
HEJII'IKBI{AHOCTI4 APXAB,A, IIPUBPE,D.E
cnrajer-a, nosehao
I{
u
[poMera, Te Apacr[rlHor ll0pacra
CTAHOBHI'IIIITBA YCIIOPI4O EKOHOMCKH PAqT IXI'IPOM
crorry He3arroo.[euocru
u
o6opuo xI{BorHI,I craHAapA aMepl4r{Kor
I4
eBponcKor rpafanlaHa.
(Darropu xoju pu.ry Hit rprBpeAlre quKJryce KparKoporlHo He yrnqy y sna'rajuoj rvrjepu na
rpegA upnnpe4e, jep rpuBpeAHu IIIIKJIycu npe4cran6ajy KparKoporlga qAcryIlalba
eKoHoMcKr4x napnja6rur, oAHocHo KparKopowre Snyrcryaqraje eronoucKl'Ix aKTI'IBHocrI{ oA
.4yropor{Hof rpeuAa paora rrpr.rBpere. Mefyruu, AyropoqHo Mory Aa ce, npeKo reH4enquje
rrpLrBpeAHIIX UHKJIyca y o4pefenou BpeMeHcKoM I4HTepBany, oApa3e Ha UIIKJII{IIHy
lpryxryaUujy caMor noreuqujannor ApyrrBeHor rpoll3BoAa, oAHocHo rIpI'IBpeAHor
TpeHAa.
flojana v
r{HTeH3rrBHa, HeKoErrponvcarra npurvrjeua (fnnancujcxnx AepI'IBara 14
r4HcrpyMeHara tpuHancr4jcKor r4HtN:erbepuHra je y 6nllcroj rpomnocrl{ AoBoALIn+ Ao Ayrl{x
KorLyrrKTypHr4x ycnoHa. Onruru eKoHoMcKIr ycnoBI,I u sacuherbe y xopr4ruhemy v
lpomuperby nocrojeh.nx r4HoBalpaja cy y3poKoBaJILI Hacryrlarbe HoBe, a s6on IIrHprIHe
o6yxnara, BeJILIKe $r,rnrancuj cKe KpLI3e IrrHpoKI'IX pa":vrj epa'
21. nujexa je rIoKa3aJIo [algru KoHTI4HyI4pana npahema
npr4BlleAHr,rx Kperarba H eKorroMcre auaJru3e eM[HeHTHI{x pejrunr aleuquja 14
r.rcrpalrprBatrKrrx qenTirpa y cnuj,ory Hrrcy Mornv Aa ca eSvracHourhy youei Kperalbe
Irlcxycrso npne (punancujcrce
Kprzr3e
n peqecraje r<aro 6u ce Ha npnjelvre ger$unuca-ne
o4pefeue vrjepe n y6.naNranl4 Heritrr,IBHu e$errn rbl4xoBor Hacryrlalba.
cnjercre rpr{BpeAe y 4lasy
Kprd3e a 3ar}rM
Er<onouuje ca eKcrraHsnjona na najnumeM HuBoy rlpeAcraBJbajy os6urHy ocHoBy 3a
loqerar o4peleue SunaucujcK(3, a caMr,{M TI{M, }I eKoHoMcKe KpLI3e ruTo AaHac, y
ycnoBlrMa ysajawtre rroBe3aHocrr{ cnjercxux eronounja
rrpoqecnMa
rnrepHarluoua;rusaquje u rno6arrEsaquje, rpeAcraBJba orIIrITy npujerrry erouontcroj
cra6umrocrn qrajenor cnzjera. (Dasa uyue ercnau:uje y exououujr.r je nonoAHo rno
pa:noja MopanHor x€BapAa lr rnneryraquja, Morr4Blrcanr{x re}Kr6oM 3a Irtro nehrau
npo(pr,rronr 6es o6supa Ha pv3llr:, rcojv o6jerrnnno y onoj Sasu erarue riraje uoryh, a
orparrflqeHr,rx cacBr,rM rrpr4poAHo]\4 TexrboM npr4BpeAe Ka crarby ypaBHorexeBa, oAHocHq
crarby rpxr4rxuof exwtnl6upujyvra.
Cra6anan pasnoj raruahe oua eKoHovrnja roja je y cronr npuBpeAnoM ul4Krycy HajAyxe
rpprcyrHa y nog$asu:rcrroHa, o,unocuo oropaBKa jep ra4a ropuruhenl{ Kafiaqu'rer Baprpa
oKo l{yroporrHor, paanrcjHor rpeHAa [pr{BpeAe npocjevue yfiocneHocru KaIraII[Tera npeMa
raxrjennna rpaxrbe ca 6rarold reHAeHrlujorra pacra, ynnjer< cnpeMaH sa ycnjemuo
upurarof aearLe HoBr.rNr r43a3oBlrvra u npuj errbaMa oxpyxerba.
Bapuparre KaMarHe crorre je r-riay.ruo sa MaKpoeKoHoMcKy cra6znnocr jep o6es6jefyje
ycxrafunarbe BpeMeHoKe Ar{HaM.aKe rrorporrrrbe r{ npor43BoA}be y npr4Bpegr,r. ElxouoMcKe,
;il;;;" o;Ha;;fiI(;;.p#;;i;; ffi;F;jt d; 4;; ';"duil vpu""oi'*ersa"'
na(fre, AI'IpeKTHo ytuqe Ha IIpOI'l3BoAHe
oAHoce u ;1p1KT;p1pa MarpoeKoHoMc,Ke nep$oplvrauce HaqlIoHaJIH[X eltoHotuuja u cnjercre
exonorrluje. Izlcr.o raKo, pa3Boj cnjercre eKoHoMI,Ije je rnymll [oKperarl IIorpoIIIIbe
euepruje, oAHocruo narpre. flopar:'r qvjena naftte, Kao npr{Maprror enepfercKor I{3Bopa,
r
HeMlrHoBHo AoBoAr.r ro pacra qujeua ra un$naquje, Te rlaAa [poI'I3BoAI5e' rlorpollrrbe
6pyro ApyIIITBeHor ntpol,I3Bo.[a, oAHocHO [OIopIJaBaIsa eKoHoMcKI'IX nep(fopuancn
PacnoloxuBocr eHepfeiTcKux
cnj
I43BOpa, npr'rje cBera
ercre exonovu,rj e cBo Ao BeoMa,o36uJbHI.Ix
eKoHOMoKIIX nopeuehaj a.
Berurca $uuancujcKa r(pu3a 21.'nujexaje ornopuna rlyr HoBor cnjercror (puqancnjcror
rropelKa npeKo rpeKo,Mno3raqraje $rauancujcKux rpxc{Irrra y cBHM cerMeHTFMa cnoje
crpyKrype u uojauane ,aKTr{BHocrr.,r cyBepeul4x I4HBecruqqoHLIX (fou4ona. Bujer uaa uac je
Kpo3 nu6epalnsaqujy' aMepr.Frr(4x H eBporIcKlIX Tpxullrra ouoryhuo Ltr3Braqelbe
MoHerapHrdx pe3epBr,r pr3 Brlcolro pasrujenrax 3eMara y 3eMJbe uaSrne H I'I3Bo3He
4ounuaquje, aJrvr cnojenpeveHo 3:rBr.rcnr.rqe oA yBo3HLIx anerr4Ta aMepl4rrKor E eBponcKor
TpxlrIrITa.
Pesynmamu do rcojw ce y pady' douarc nomepfiyiy nocma+"beHy xunomesy o yspottHonocneduuuoj no6e3aHocmu HacntaHKa u passoja eKoHowcKltx, oduocuo Quuaucuicxux
Kpu3a u MaKpoeKoHo.McKLtx Qax:mopa oKpyacetua u dajy HayqHu donpuuOc paseoiy
ttoHemapHe meopuje u npaKce y pffiyr4ujenatuy doueua eKoHowcKttx nopeuehaia u
Qarcmopa ymuqaja.
Kamezopuja 19.12.
6 6odoea
,/
garrruh,
[,.
,,ArcmyenHu nparqu npoujeua pezynaquje Quuaucujcrcoz cucmeua".l/
Acta Economica.
l6lx
(2012), Eronorr,rcxr.r Sarynret, Earra Jlyra, cry' 173-199
CsaKa $ranancujcKu cr.rcreM 16or pusura Hojr.r HocLI tberoBa cJloxeHocr, AI4HaJ\,IpIr{Hocr 14
orBopeHocr, HeMraHoliHo je KorrrpoJrr{caH vr peryn}IcaH peryJIarI{BoM JIoKaJIHoT 14
r{HrepHarluoHaJrHor x:apaKrepa. llpeguocrn perynaquje 3a 3ApaBJbe (fHuaucujcxor
cr{creMa cy Br4rrrecrpyKe, anI,r ce [ocraBJba rrr.rrarbe rde je rpaHnqa KoHTpone ]n
perynaquje, :rana oHa rpepacra. ceoje e(peme n uocraje I43BopI{IIrre onopryHt{Ternplx
ry6urara.
onolr paAy .je r{crpaxeHa roHe3a pasnoja KoHTpoJre r.r perynaqeie y eroHor,tIEjIa u
tfnnaucujcroM cr.rcrerr,ry je4ne 3eMJbe, ge(puuucan rLeH AoMeu u najepe eSerara n
Y
ucraKHyrr.r cy rro3r4TI,IBHI,I etferru u orpaHntlelba ApxaBHe uHTepBeHquje, oAHocHq
perynaqnje n cyrepBpl3Iaje ca acfleKra napujaqnje ycnoBa IbpIXoBe npurvrjeue.
llpoqec xapMoHr{3ar{uje 6aurapo(e perynarluje n cynepnusuje na rr,relynapoAHoM HrIBoy
je neoua :Hauajau rz AerrraBa ce anaJrofHo rrMrrJleueuraquju Easercxux cloptByMa,
Ynolerre r4 r4MrrJreMenraquja cra.HAapAa Easencrcrax clopa3rya r{ npeilopyra EasercKon
KoMurera je cnaxaxo ;lonpnnnjena $r.rnancujcxoj cra6znnsaquju 6avxapcKlrx cr4creMa, a
xapMoHn3aurja MebyHapoAHol\4: Quuaucrajcrou craH4ap4kr3rlpaHoM HBBjerrrraH;y
HeorrXOAHoM 3a paUlIoH:aJIHo .UoHolrrerre oAnyKa
I4 oB}I
IIpI{ LIHBeCTI'IpaIby' Kao u cBaK[ IIpOqeC'
npoqecu HeMIIH0|BH0 3axT[.i|3Bajy oApebeHy al]ian}I3y KopI.IcTI,I
pI TpoIxKoBa IbI,IXoBe
HMrrJreMeHTaIII4j e, OAIIOCIIO aHanpl3y IbI'IXoBe I4CIIJIaTIIBOCTI4.
y
je
jerue
$rauancujcrorra cl{creMy
rroKa3ilrra Aa cBaKa oA yrlora ApxaBe
un'ra
HarIlroHaJIHe eronorrlraje (ynora HIIlBecTpITOpa, KopI'IcHI4Ka, peryJlaTopa I'I KoHTponopa)
j"
I+'eHo'r
rpaHlnqa
Cnoj ucruncKll cMl4cao u Saie eselcar, aJwt ce [OcTaBJba nlaTalbe .qie
neh
Aocera KaAa Apx{aBa flyreM cncrjnx LIHcTpWeHara upecraje Aa cnyxu cIIcTeMy,
nocraje Kot{HuIIa lber(lBoM AiUb,eM pasnojy. ,I{pNanua perynaTl'IBa Tpe6a Aa oMoryhl4
qra6llrHux
HecMeraHo tfyHxquon;wcar1e n p,a-:noj $unancujcKux rpxl{firra Kao 6a-:e
rpxr4rrrHr.rx oAHoca s cra6unne npprBpeAe, a He Aa AoBeAe Ao oApebeHI'IX KoHTpaeabeKara
llparca
ca rrocJbeAnlraMa
ro urajely
npllBlpeAy.
v o6nprx perlur4carba {r;ruxquontrcauba
QuuaucnjcKor crlcreMa kr paBITutIurI'Ix
(fnnaucujcrxx rp)Ictlrrra gaeuorhe oA crereua. npI'IBpe,UHor pa3Boja H pa3Boja
cnjercrux
$nHaucujcrcor crrcrervra. I4ureHgueaH pasnoj Ilpoqeca uo6anusaquje
cnojenpeMeHo
$unancrjcKprx rplrr.rtu:ra ra parnoji nelnror 6poja QunaucujcKl,Ix I,IHoBaIIuja
cy crBopr{nr [orpe6y uone $oprt,te peryJrarllBe I,I flpoflvca y HaIILIoHzITIHI4M o$BHpuMa I'I
151rxoBe rraefyco6He xapMouu3arlraje n ycrnatlunatra. Peryuaquja I4 cyrlepBusuja Apxane,
c?rrypHo, cBaKoM (puuiurcujcKoM orrcreMy, AorlpuHocl{ cMarbeny pLI3[qHocrLI, nonehaEy
nonjeperra cr€rHoBnr{rrrBa rr rp:aBpeAHr4x cy6jerara y cucreM, oclzrypaBa rIpApIrIKy y
Crenen
ycnoBr{Ma cr4creMcKn:x 6aHrapoxux
MoHorloJrr{cruqKo llouttilralbe 6aHarrca.
vr
(punancajcrux KpIBa, arur
kr
ovroryhyje
Mefyrurra, rpeuarnameHa perynzulraja uoxe HefarI,IBHo 4jelonaru Ha rylrerbe poncrBeHe
uuwlujaruBe H Kpearr..iBnocrr,r 6aruaxa, yc[opaBalbe eKoHoMcror pa:noja, KoHKfpeHTHocr
6auxapcrof rpxr{rrra r4 rroAcra}iu snoynorpe6y MoHo[oJIcKor uoloNaja n rexrby 3a
perynaropHou ap6HrpaxoM, rrrr,o rroBehana uoryhlrocr rIoHoBHor Hapacralba MopanHor
xap3apAa.
,{pxaea, ilpeKo ceoiu:x perynafi)plrrx opraHa, rpe6a Aa cBeAe peryraqujy roKoBa y
(fraHancrajcKoM cr.rcreN(y r{ na dlunancujcrrau rpxulrrrl,IMa ua jegau onrLIManHI4 HI,IBo,
npenynmajyhu ux ,,na norly[ OrIa3I4 noHyAe LI Tpaxrbe, aJIv Ia jaua cnojy $ynxUujY
KoHTpone Lr cynepnursuje, KaKo 6u ce AHcrIHnnIdHa 14 o.uoBopHocr yqocHrlKa Ha
(pnuancajcrurr,r rpxnnrrrlrMa rro,4r{rJrrr Ha nehu HI,IBo 14 TI4Me pa3Blana noja-nnocr
KoHKypeHrlraje. Mefyu{M, oHo rrrro ce [oKa3aJro aKcrIoMoM y ,,He[[caHIdM rlpaBunuvan
pasnoja (pranancnjcKro( crrcrerraa je Aa roKoBr4 perynaquje cn'ypHo AonpllHooe mxpelby
SuiraucujcKux rplorrxra rpeKo rvrorr,rBnculrba pasnoja $unancujcrux uuonaquja.
MefynapoaHa xapMorrusaqnja dauxapcxe KoHTpoae H cyflepBuruje ycrvrjepena je u ua
ynolerre je4Ialrcreenor cera p,arlyHoBo,qcrBeHl4x craH.{apAa y cBpxy yuanpefena
rpancnapeHrnocrr4 ra naefyco6He yrropeAlrBocrr4 (funaHczjcrrax uu(popirraquja ca qLIJbeM
Aa oHH roju ux Kopr{,cre go6ujy Lrx KBzrJrr{Terne, draroBpeMeHe pr y AoBoJbnou o6Huy,
KaKo 6u 6utm y nroryhnocru Aa r.r3Bprrre 6omy npoqjeny $uuancujcxe curyaqnjo
eMr.rTeHTa pr pkrgr4]Ka rojunra je oH rr3Jro)KeH.
Melyrurr,r, rpe6a r4Marv
y
BrrA), Aa
ce unrlrBrrqyurHo
seMJbe naelyco6no
pmmrryjy y
r0
il;;dct
il;;;;;;;
;p;;Ffi;;;-d;F-"-iiao"n"oii"
$""a"cujcror cuoreMa, IIa
cyrepBl4:uje uoxe y cBaKoJ oA
nrelyHapo4Ha xapMoHu;sa\kria 6aurapcxe perylauuje r
rbr,rx aM[JII4UI{paTI{ piBnL{rII{Te e,$ercre n 6zru UgnOpnIIITe HOBI4X OIIOpTyHI4TeTHUX
ry6ulara yrr,rjecro Aa oclrBaplt rIo3lnLIBHe eipeme'
Pesyl1aru 4o r<ojllx ce y paAy Aotl:no cy noTBpAlIJIlI tIOCTaBJbeHy xl'Inore3y Aa pery:raqraja
u cyn:epBr4:raja apxan(J Aonpr4noor.r cMarberry pu3I,ItIHocrLI y $unancrajcKoM cllcreMy'
nonehany nonjepena cTaHoBHI4ILIITBa 14 IIpIIBpeAH[x cy6jerara y cI{cTeM' Ocl4rypaBa
[o.{prrrKy y yonoBl{Mit cl{cTeMcxux 6anrapcKllx rE $uuaucrajcKl4x KpII3a, 'NIuI v La
npeHarnallreHa perynaquja Mo)Ke HeraTuBHo 4ielonaru Ha ryIIIeIbe ooncTBeHe
r.rnuqujalaBe I4 KpeaTI{BHocTI,I 6auara, yc[opaBalbe eKoHoMcror parnoja, KoHKypeHTHocT
6anrapcror rpxr{rrrra n rroAcrahr.r anoynorpe6y MoHotIoJIcKor [oJloxaja I4 ltexrby 3a
perynaropHoM ap6r4TpiexoM, Irrro [oBehaBa uoryhnocr rIoHoBHof Hapacrarba MopanHor
xap3apAa.
tvoHemapHe meopuje u npaKce y
pasyntujeearuy dotteutt onpaedaruocmu pe?ynaquje u cynepeusuie y 6auxa cmey ca
Pqd npedcmaa,ua HoyttHu donpuuoc pazeojy
acnek:ma 31utmume Od uACmynALL,Q CttCrtt€MCK?Ix U HeCUCmeMCKux pU3uKA.
Kamezopuja 19.12.
6 6odoea
,/
Banruh,
[.
,,Hbeu cmpa;mezujcrcu npucmyn
dut4a znoli aauux eK(rltoMcKux nop eaehuj
KocoscKa Mrarponuqa, crpr. 1-19
no cne
flpe4uer rrcrpaxr4Barbapara je
y nocho^Hoi nonumuqu nguarca
a" I
.
I
ExonoMcKI4 rIorJIeAH.
rcao
2 I (201
I),
y 6anrapcrBy I4 reHAeHIIujq
pa3Boja HacryrrarbeM Benr,rKe Sranancujcre Kppr3e. I{urr ucrporl{Barr,a je nocrarurane
HoBorr crparerujcKor nprlcryrra y rocnonuoj norururlu 6auara prs AecKpranqnje I{ aHaJILI:Jo
calrJreAaBarbe crBapHof crarba
y3porrHo-nocJre.{r{rrHr.r}l KapaKTepa o[IIrTer eKoHoMcKof rlopeMehaj a.
Ana-rtusa onrrrrr.rx erioHoMcKux nep$opMaHcrr eronoruraja Cje4urreHux Arvrepn.rxax
fipNana, Enpoucxe ynuje u Jalana je ror<a:ara Apacrr,rtlaH naA orlllrre eKoHoMcKe
aKTr.rBHOCTr{, XT4BOTHOT CTaH.{iapAa U pacT He3aIIocneHocTI4 y cBI,IM peruIoHIIMa
KpH3oM. Irlcrpaxunama cy [oKa3aJIa
opjernucaHocr 6anara npeMa ilocJroBHr.rM aKTr,rBHocrIaua rojuu ce sao6urailu Aejcrno
KaMarHe crorre u eKcrepHllx lparropa Ha rbI,IxoB TIocJIoBHLI au6ujenr.
o6yxeahenux
Y
BeJrr.rK:oM $unancr,rjcrorvr
ocnonpr 6anxapcre aKTr,rBuocrr4 rrocrrpr.r3Hor [epr4o4a
aKrr.rBHo
je opjeutucanocr
Iila rbrIxoBo
yremhe y crparerujcKtlt\d pecrpyKTypuparby rorr,rnanuja, 6aprep rpancarquje n
TproBaqKo 6arucapcrncl.
MorpreucaHe norpe6ona canar1uje nacra:rHx Herar[Buux e$erara BenlrKe $tnancujcxo
Kpu3r3, HaKoH cra6unrrcaquje nprr:ro BJraAr{Hrrx SunancujcKr.Ix [aKera, 6anxe cy cBojI,IM
crparerujcrn o6pr y ceojoj nocronHoj noJrr.rTr4ulr
npeKo suavajuor npe(]rpyKrypr.rparba y 6ulancuMa 6aHaKa oAHocHo, ApacratrHor naAa
npofpilMr,rMa KoHcoJrr.r.qaqrje r{3B,pr[[ne
il
6aHara y r(oplrcr pacra y o6racru nocJloBarba ca xap:rnjaua o.4
epuje;1Hocrn, noce6no y o6na,sru xaprnja or npuje4nocru Apx(aBHof rpe3opa u
areuqnj crcrax xaprnj a, r'e rpfoBatlrcrcr 6anrapcrna.
KpeAr4THe aKTr4Buocrn
Ha xoMoreHl{3aul{jy 6aurapcrux [ocJIoBa,
oAHoc,Ho (por<ycrzparrr3 Ha rpaArrqrroHanHe 6aurapcre nocnoBe aru ca eehol'a
ycrvrjepenoruhy na aKTr4BHocrr,r oor4ryparba KpeALrrHe aKTI{BHocrvr u qI,IJbaHe upojerre,
najuerlhe lpeMa cerer<rrEnnoj rroir]rrurlra Bna,4a. Y 6yayfuocrn 6anre he o4urparu
KJbfrFry ynory y (fuuancnparby r].rraArrHr.rx upojerata eKoHoMcKor oropaBKa. Eanre cy y
ceojoj uocnonHoj noJrnTraura lt piaJbe Ay6oxo oupe4ujeneHe 3a yHanpeleme rpoqeca
Apyru crparerr{jcKr.r rflprrcryrr 0e
oAHocr,r
u
syauajno uo6oruraBarbe ocl4ryparba KpeALITHLIX aKTI{BHocrLI
IIpeKcr caMoocrrf yparsa rr r4HcTHTyrIr4oHaJrHor ocurypalLa.
ynpanlJbarba pr.r3rrrlr.rMa.
3axr:ujera ce ,,omrpuja" upyAen{vfiwrua KoHTpona u perynaquja 6anrapcxor cexropa.
ZcrpaNunameM cy noqrpaHe o4preleue cueqnSuuuocrr{ ricJraMcror 6aurapcrBa y oAHocy
Ha rpraArrrlaoHa;rHo u c;aBpeMeHo )/ ycJroBr.rMa Kpr{3e s6or xaparrepucrr.rqHe ugoraquje oA
s 3arnlraheHocrr.r
oA MopanHor xa3ap1a, ca je4ne crpaHe .Lr
MoAeJra:aje4url.rxof yJrararba Ha rflpr.rHrlrdny no4jene flp]rxoAa r.r rporrKoBa r,r saje4urEurl.r
4e@nnucanor crparelnmor rILrJba, ca Apyfe crpaHe, a y I1urly cra6ulnsaquje onrurrax
4ejcrna KaMarHI4x crona
eKoHCrMcKrrx uep$opivraHclr.
forono paAlaKanHo rlpe)crpyKTyprpafbe y 6uraucuua KoMepqlrjzrJrHr.rx 6anara je r43BprrreHo
y Kollplcr rproBarlKol 6anxapcrsa. Ycrrajepenocr 6aHar<a Ha rpfoBaqKo 6anxapcrno
npeAoraBJFa [o3urLIBaIr crparerlzljcrrn npucryn jep ce na raj Harrr,rH 6asxa Sorycapa na
$unarcuparre npojexara y uujoj pea-rrusaquju ra upahemy aKrLrBHo yuecrnyje u ca oBoM
arrun noruhy IrrupoKo pqunepsz$z npapa ceoj nopl$o.rrrao.
3uavajan AorIpLIHoc olopaBKy 6a:aat<a 14 rrpuBpeAe yonrrrre y ycnoBr4Ma olrrrre
(funarrcrajcKe KpLBe MolKe Ia IA yKJbytrr4Barbe 6anaxa y caujer HeHoBrraHr{x rpaHcarquja
r<oje ce 4e(frannruy Kao I4HBecrr4rrr.roHe ra SunaucujcKe rpaHcaKquje xoje He :axrujenajy
ynorpre6y HoBIIa LIJIH HoBr{aHI,IX eKBr.rBaJreHara rarvrajyhra y BHAy Aa ce KJb1n:rur{ r{3Bop
pr.r3r.r(:a oA eKoHoMcKHX uopeuehaja u ry6urxa Hara3u yfipaBo y HoBqaHr4M
rpancaxqnjaMa rrpeKo rrpoujeue )'Kperarby qujeua
r,r
KaMarHr4x crorra.
y pady downo npedcmaemajy suauajaH HayLtHu donpuuoc paseojy
JvtoHemapHe meopuje u npaKce y o^nacmu
y nozredy paseoja Ho6oz
^aurcapcmea
cmpamezujcKoe npucmyna y no(rtozHoj nonumuqu
6auarca y Kpu3HoA4 u nocmKpu3HoM
Pesynmamu do xojux
c,e
nepua,dy.
Pa4
je
rlpe3eHroBaH na Melyuapo,IHoM Ha){rHoM cKyrry ES-NBE 2011 ,,EroHoMcKa Hayra
4yuruuju Kpel,Ipalb,a HoBor noc;roBHor arvr6ujenra", y oprauuzagtqu Elaonorucror
Qaryrrrera YHanepsurera y Ilpramrr.ruu, uoneu6pa, 2011. roAlrue y Koconcxoj
t
Mzrponuqu.
Ramezop1,tja 19.1 1
l0 6odoea
.
t2
,/
Earnuh, [,. ,,r\yJrcuuurca: Kpu3a u tueHo pjeutaearue".ll 36opnnr< paAoBa
Erconouclcor Saryntera y l,Icrounorra Capajeey 6 (2012), fla-ne, crp.259-272
Onaj paA rrpeAcraBiba Kpah), cl{creMarll3allujy noAy3erLIX ujepa y
cra6unuzaguje Kpu3e, rrocrufHyrr.rx pe3ynrara
u
IIorJIeAy
[perneA rvroryhux rIoA]DGara
tr
lrMrrnr4rlllpariIEx eSercala.
Ceaxpr
olrrrru
eKoHoldcKr,r noperr,rehaj HeMLIHoBHo rIpoI,I3BoAI4 HeKLI HoBII KBaJIIaTell,
rpenc)3HarJbr.rB y rexrroJrorlxoj urnn ([rauaHcrajcxoj uuoeaquju, nonou
rplxrurry, [poqec]',
aJrurHHoBoM IIoJIIITIITIKoM, eKoHorvtcroM, oAHocHo (fuHalrczjcKoM noperKy.
na cBe Ao AaHac ce yrnaBnoM Kper€rno y
rrpaBnty ApxaBHor uu:Tr3pBeHrlr4onrr{3Ma u jauawa perynalluje (pnnaucrajcKof ceKropa. Cer
rroAy3,err4x rvrjepa ce r(perao [peKcr roroBo cnoFlTarlux yruqaja Kperarba KaMarHe crorle pI
Konrrqr{He HoBrIa y onrurqajy y AoMeHy reopuje MoHerap}I3Ma, rra cBe Ao pa3JIpItII{TI{x
o6nulla ApxaBHof r.rHlepBeurlr4orrrircMa Kao rrrro cy jannu paAoBI,I, pecrpl{KTplnne ujepe
rrrreAne, cMarberbe dygercre rrorporrrrbe, nonehane uilv cMarberbe rlope3a paftr
PjeuraLnarre 6aHxapcxux KpH3a Klpo3 r.rcropujy
pacrepehema rpr4BpeArrux cy6j er'ara
u rube
oupe4jeryje IbHxoB e(ferar
nopeuehaja
u npahar+,e orrrrrer
neonaa 6u'rHo, rpajarre oflrrrrer eKoHoMcKor
nonjeparra januocru 1r 6anrapcKlr, oAHocno $rEnancnjcru cucreM Kao KJbyr{Hu cry6
cra6u:nrocru uo6arHrax eKoHoMrcKr{x nep(popnaancr4 rr rrpeAycnoB orrrurer rrprrBpeAHor
Braro,epeN{eHocr }r KBurJrrlrer o4a6panux pjenrerra 3Haqajno
14, rrrlo je
pacra.
Pad npedcmazlba HayqHu donpomoc paseojy r4oHemapHe meopuje u npaKce y doueuy
Kpeuparba uodena pieuaearca Quuaucujcrcux u 1aurcapcrcux Kpusa ca acneKma
no3umu6Hux ymuqaja Ha cma1u,ryusqqujy Quuauc:ujcrcoz cucmeJila u ycnocmaBJbarbe
onutnie z npuepeduoz pncma.
Kamezopuja 19.12.
6 dodoea
'/
Aleksii Mari(i, V., Ba5i6, D. ,,Customer Relationship Management in Banking in
the Context of Busine:;s Intelligence".ll Technics Technologies Education
Management. V'olume
7lI
(:,.2012),
Sarajevo, pp.154-163
In terms of current developments in the banking market tickets have already been largely
divided, and there is a strong competition among banks. The strategy of banks is mainly
built ,on attracting customers frorrL other banks or retaining existing customers. Listening
for signals from the rnarket and those who send existing customers can be crucial to
businrlss success. Busirress intelligence helps to just listening to such signals.
In future times, the suocess of banks will largely depend upon the quality of a developed
systern of business intelligence, which is primarily focused on the client. Such systems
must be able to learn fi:om the exp,eriences from the past and promptly respond to specific
market situations.
l3
of ieady-made software solutions solve all the
comes to
problems in the field o1 business iLntelligence, especially in the banking industry
on the skill
the for:e the creativity irr the develtpment of business intelligence, which relies
of analysts who finds a solution mo,del for non-standard problems in this area'
edil;;t t" p"dfii#il"f idtttie puftdG
Of course, there are problems th.at can be solved by using a commercially
available
produrot, but given the r;omplexity of the market as a result of the balance of power in the
banking scene, everything is going more and more to the fore come to creative solutions to
certairr types of problems. The advantage of this approach is the possibility of rapid
diagnosis of certain fi:ends that may carry some potential business opportunities and
potential dangers. The efficiency and speed of recognition of these trends will depend on
the efficiency of banks. Business intelligence systems and their quality is one of the main
foundations on which banks needl to build their business strategy. Such systems are of
particular importance to those banks that have a national network of offices and who are
planning a significant expansion ollbusiness in the future.
yc,nonuua rpeHyrHtrx Kperanba Ha 6anxapcroM rpxulnry Kapre cy eeh yrnaBuoM
no4rajereue, re BJraAa jaxa xoun'ypenquja uefy 6aurava. Crpareruja nocJloBarba bauara
yfnaB,HoM ce rpaAr4 Ha rrpprBnarrerry rnHjeHara Apyrux 6anara, oAHocHo 3aApxaBalby
uocrcrjehzx xlujeuara. Oclylxranarbe cvfHuula ca rpxlIlrrra pI oHI,IX rojn ma;ry uocrojehra
rcnprjeuu.r Monre 6ur:u oA rpec'yAHor sHauaja sa ycnjeruHocr rlocJroBarba. llocnosHa
V
r4HTeJrureHquj a ynpano IIoMOKe y' TaKBoM
o
cnylnKllBilrby cl{rHana.
6yayhnnr BpeMeur{r\ra ycnjex 6anara he yrnaruoM 3aBLIcrI,I o KBaJlrrery pa:nujenor
cr.creMa rrocJroBHe r{H'reJrr.rfeHqu'ie rcoju ce y npBoM peAy Mopa $orcycupatn na rnujeura.
Taren crrcreMr4 rntopajy 6nru cuo,oo6rur Aa 1nle Ha reMeJby IlcKycraBa I,I3 npoulocrrr vr Aa
Y
npoMnruo pearyjy na o4pelene c,ltryaqnje Ha rpxr4lrrry.
Cynporno ynpujeNen()M MnrrrJberby Aa ce KyrroBr,rHoM roroBl.tx colprnepcKl{x pjemema
pjeruanajy cnu npo6.neMr.r y noapyujy nocJroBue HHreJILIreHquje, noce6no y 6aHrapcrny
4o rEspaxaja ripearr.rBHosr y pa":eojy cr{creMa nocJIoBHe }IHTeJII4reHqlrje roja
yrnanHoM ocJrarba Ha cnocoBHoor aHaJrurtrqapa rcoju nponura3vl MoAene pjeruena
HecraHrapAne npo6let\{e LI3 To| lrc4prrlu.
Aonarr4
ce
sa
je
rraoryhe pujeururu KopkrrrrrerbeM KoM,epuujanno
Aocq/nnrrx rporl3BoAeL, uelyrnu c o6suporr,r ua saxrjeBnocr rp)Klllrrra, mro je pe3ynrar
oAHoca cHafa ua 6aratrlcroj cqeH.a, cse he Br4rrre lr Burrre .4o raspaNaja AoJIa3I4TLI KpearI4BHa
Hapanno, uocroje npo6reun rcclje
pjeurr:rra o4pef enux lr{rroBa upo6nevra. flpe4nocr oBaKBor rpl{cryrla je uorylurom 6p:e
gujarHocruxe ogpefenprx rpeHAorra roju Mory Hocuru ogpelene noreuqujaJlHe rIocJIoBHe
nprurrKe Kao r4 nor:eHqrajanHe oililcHocru. O eSurcacHoctn u 6psuru4 rlperlo3HaBarba oBLIX
Tpen,roBa saeIacuhe u e$aracnocr rrocnoBarra 6anara. Cacrerrrr,r [ocJroBHe rlnrerurenquje
r.r [bHXoB KBi]Jrurer cy je4au oA uaBHHX TeMeJba ua rojuua 6anre uropajy rpaAIrrI,I cnojy
crpar:erujy [ocJroBarba. Tar<su cr4creMrd cy ol uoce6nor snauaja oHr{M 6auxaua roje
r4Maj:/ Harlr4oHiurny Mpe)Ky nr)cJroBHr{rla r{ roje nnaunpajy sHauajHy excnausujy
ilocJlrcBalba y 6y4yhHocur.
14
p:;i;;*;;;;^;';;mi;ni*iiii;i',b;-y-;;;;;|i-ii;aidi'cv-di'*;-;;;i;iiija'
noclolHux
donpuuoc
pasaojv
v
'ov"u
npucmyna y nocnosahy
Quuaucuja y doueny trtaseoja Ho6o?' cmpamezujcKo?
6auaxa ua 6asu npuujeue cucmetwa nocJlonHe uumenuzeuquje'
pad je ofijaemeu
y Mefi,ynapoduoa HayqHot4 qaconucy xoiu rcomupa ua SSCI nuclnu.
Kameeopuja 19.8.
I0 6odoea
,/
Aleksi6 Mari6, V., BaSi6, D. ,,Business Intelligence and the Concept d Shain of'
Values in the Insurance".ll Technics Technologies Education Management.
Volume Sll (2013), Saraje''/o, pp. 244-256
means in terms of a particularly high degree of
competitiveness of the market inLsiurance products and services, insurance companies are
forcerl to transform from a produ.ct centric to customer centric organization. lln order to
succeed, your business should be based on the concept ofchain ofvalues custom features
of acl.ivity they are inLvolved. In this value chain business intelligence plays a key role. The
primugy value chain insurance colmpany make modules channel management, pccounting
and risk premiums, sales and management of the polis, and the management of claims for
damages. Recurrent value chairr activities are financial management, human resource
In today's conditions, and that
management and corporate governance.
Business intelligence, supported by adequate data warehousing and analytical tools, can
contribute to a better and more ellicient execution of these activities, resulting primarily to
increased profitability of the company, strengthening its relationships with customers and
increasing customer toyalty. With,cut the application of business intelligence, these tasks is
difficult or even impossible to perform well in the increasingly competitive
insurance
market.
Customer satisfaction has alway's been in every job, and more important. Insurance
business that not only no exception, but here is customer satisfaction, and certainly even
more pronounced nece,ssary than in other sectors. The service can now be imposed on and
win the favor of consumers only cluality. Therefore, the quality of services given to clients
is shLown as an imprortant factor of differentiation in modern insurance providers.
Cornpanies are faced with a far larger number of increasingly varied customer i4quiries set
on some of the traditic,nal, but mc're and online modes. In order to respond to them, which
certainly represents one of the essrontial elements of quality of service given to epristing and
potential customers, oompanies .have their employees trained in a variety of ways to
comrnunicate. This wiill enable tfie establishment
of close and lasting relationships with
existiLng and potential oustomers.
How3ver, good relatio:nships with clients does not arise spontaneously, by themqelves, they
require the application of appropriate methods and business processes that thp company
will establish a control or with which they will be able to manage these relationships. A set
of such methods and business processes is called customer relationship managpment with
t5
Cii."ti.-Si'C" ih;
m;dite'df oi;ii;'#6iio;ship; il ; ;"'iil;"il
fiffi;
in overv
step
that alroady have
of the process, the insu:ance compiany should use large amounts of data
All these data
the eadier, but also systematically collect new data about their customefs.
and
shoulcl be stored in a dtrta warehou.se, which will, by appropriate methods, techniques
tools, business intelligence, enable the creation of insight into all the important attributes
custorners demand.
y
AA.HarXrbr4M ycJroBlrMa,
a T0 3HaqH y
ycJIoBI,IMa ll3pil3l{To B}ICOKOT cTeIIeHa
ocurypanajyhrax npol'I3BoAa v ycnyla, ocurypanajyhe
KoHK)peHrHocrLI rpxurlra
xounauraje cy [pI4cI.IJbeHe Aat ce tpauc$Opnrurny 143 IIpoAyKTIIeHTpLrmuX y
rrnjeurqenrpur{He oplaHra:arluje. [a 6u y roue ycujene, cnoje nocloBalbe 6ra rpe6a;re
3acHr.rBarlr Ha KoHrIe[Ty naHrla npuje4uocru npl{JlarofeHor o6r'rneNjurua 4ielaruocra
rojov ce 6ane. Y raxeoM naHrl:i npuje4noctu rIocJIoBHa I,IHTeJTI{renquja urpa KJbf{Hy
ynory. llpnvrapura JraHaq npnjegnocru ocurypaeajyhe xounanuje qrHe MoAynI'I
y[pasJbarba KaHarr4Ma, o6pavyna pu3vna u npeunja, npo4aje u yflpaBJbarba noJlplcaMa, Te
y[paBJ6arba oArrrrerHra:rvr :axrjen.arrla. CenyAapHu JIaHaII npuje4nocru qI'IHe aKTI'IBHocrI{
$unancujcxor ynpaB.Jbarba, yffpaBJbarba JbyAcKLIM pecypcuMa vr KopnoparuBHor
yIIpaBJbalba.
llocr,oega r,rnrenrarerrqraja, [crllp]KaHa o4ronapajyhurra cKnaAI{rrITeM noAaTaKa
Lt
Moxe npra4ourEjeru 6onelvt u etpuracuujeu usnpruaBaby oBI'IX TI4x
apTr{nHocrr{, rrrro he pe:ynrnparu npuje cBela uonehauovt npotfrara6rannoruhy xovnaHnje,
yunpuhnearbeM rLeHvx oAHoca ca rrujeurtrMa v sehol\a lojannoruhy ruujeuara. Bes
npr,rrr,ljene fioc-rroBHe l{HTeJrureHuuje, uaneAeHe 3aAarre je reIIrKo HJIu qaK ueuoryhe
anirJrrrrr4rrKr{M aJrarr4Ma,
KBZIJIIITeTHO I,I3BpIIABA tI.I HA CBC I{IOHKYPCHTTUAJ
EN,T
TPXI,IIIITY OCITYPAIbA.
3a,4onorr,creo r<nnjeuara oaynrzjer je n y cBaKoM rlocny 6uno n ocraJlo Bax(Ho.
Ocurypanajyha 4jenaruocr y rorvre He caMo Aa nvje usy:eraK, Hero je on4je 3aAoBoJbcrBo
Knprje,HaTa cr.rry?Ho qaK u Harnarmenuje norpe6uo Hero y HeKHM,4pyILIM 4jelaTlrOCUarr.ra.
llouyfa.r ycnyra Moxe ce AaHa.o HaMerHyrr{ u ocnojuru
HaKJIoHocr norpolxaqa caMo
3aro ce KBirJrprrer :/cJryra npyxaHrrx ruujeHruua nora-:yje rcao jegau o4
BaxHr.{x (farcropa 4z$epeuqujaqaje nonyfava y caBpeMeHoM ocl{rypany. KotrluaulEje co
KBaJrr{TeroM.
cyovanajy ca AaJreKo sehuNr 6poj,ou cBe pa3uoBpcHrajux ylura xnujenara nocraBJbeHllx Ha
HeKr,r oA TpaAprqlroHaJlHr.rx, aJII,I ctBe BLIrle u oHJII{He Haqr.rHa. Karo 6u Ha ILI,IX oAloBopI,IJIe,
rrrro cBaKaKo rrpeAcrrrBra je4an oA 6rarunx eJleMeHara KBaJIlITera ycnyra [pyxaHl{x
nocr<ljehuru v norenqujaluuu uujenruua, xounanuje rraopajy cnoje 3a[ocJIeHI{Ke
ocnooo6uu,r 3a pa3Horrpcue Haqrme KoMyHr,rKauuje. To he uu ouoryhnru ycrlocraBJbalbe
rpuclrnx n rpajuux oAnoca ca noc;rojehlrna u noreuqujannuu xrujenrllMa.
Meflnnrr,
go6pkr o4rrocn ca rruljeurprMa He uacrajy crroHTaHo, caMr{ oA ce6e, onr,r
saxrlrjenajy npurrajen'y o4ronallajyhux MeroAa u rrocJroBHr.rx rrpoueca rojrarvra he
ronananzja ycrrocraBnrlr KoHTpoJry, oAHocHo nonaohy rojux he naohn ylpaBJbarr.r rlrM
oAHocr.rMa. Cxyn rax:Brnx MeroAa r{ nocJroBHr4x rrpoqecana3uBa ce ynpaBJralle oAuocr,rMa
l6
ra je ynperBrbarbe oAHocIrMa ca KnI,IjeHrI'IMa KoHrI{HyI{paH npoqec,
y cBar{:oM KOpaKy Tof nrpoqeca ocrrrypaBajyhe rcorvruauuje 6u rpe6a-ne Kop}IcTI41'I'I BeJII{KC
KoJruqr4He IIoAaTaKa rojuua neh, oA panuje paclloloKy ) aJII4 rarOfe cIICTeMaTCKI'I
rrprrKyIIJbaTI4 tI HoBe noAaTKe o cnojuu rnujeuruua. Cse re rloAarKe 6u rye6ale
;d;J;ffi;;.-Btttd
roxparbl4BaTll y cKJIaAaIrITe rloAiuraKa, roje he nu, npuujeHoM oAronapajyhux Mero4a,
TexHr,IKa kr aJrara [ocJ]toBHe I,IHTe.[pIfeHIluje, ouoryhurn crBapalbe yBr4&a y cBa BaxHa
o6uraxj a norpalrcbe rnnj enara.
pesyn,mamu ucmpaucu(larba
y
osov4
pady cy danu suauajau HayqHu donpuuoc y paseoj;y
'u
nocno7Hux $unaucuja y doueuy u3Hana:xcetua Ho61,tx opzaHu3aquoHux cmpyKmypa
uodela ynparlbarba canpeJvreuux qbuuaucujcru,m uHcmumyma ua 6asu npuuieue cucmeJna
n o c fl o B H e uHme JIuz e H qqli e u Ko Hq e'n: ma n aHq a sp ui e d H o c mu.
Pad j<z o1jaemeu y Me.fi.yuapoduo*r HayqHoM qaconucy rcoiu rcomupa
ua
SSCI nucmu.
Ramezopuja 19.8.
l0 6odoea
YKY]IAH
BPOJ BO/IOBA:
rocr KaHArlr;"ilaTaz
Odpa.sonua 4i e.narnor:r upnj e uocJreArber usdopa/peur6opa
r) O6pa:onna
(Haeec:mu cae eKmunHocmur (ny6nuxa44itz, zocmyiyha uacmaea u aeumopcmeo) 96DCWAHUX nO
KameezpujcrMa us unaua 21 .)
Edyrcat4uj a
y
uHo
cmpaHcmry :
Trainer Programme in Banking, (Dpanr$1pr na Majnz, ILeuaura, 2002. - Cenaranap sa
6anr<urpcre r{Hcrpyrrope y opraHuaaqujn Eanrapcre axa4euuje us (Dpanr<$ypra Ha Majnz
(JI ut4e nqa 6 aurcap crco z mpeu ep a).
Kameeopuja 21.10.
Iledazowrcu pod u yqelufte
!
Hacfilo6Ho14 npoqecy Ha yHusep3umemy:
rorcy r436opHor nepuoAa y capaAHnqKoM 3Bar6y Br{uer acucreHra (2004-2009.) ua
Eronoucrou $arymery Yunnelp3r{rera y Barroj Jlyuu KauArAarKr,rma je I{3BoAI,Ina
ejeN6e Ha AoAr{nnoMcKoM cryar,{y (I qr.ncnyc cryguja) na Kare4pu 3a parryHotsoAcrBo pI
rrocJloBHe $IaHancnje Ha crr'eAehuna [pe,AMerHMa: ,,EaHKapcmlo", ,,Eep3aucrco
nocJt()Ban-be",,,@uuaucujcxa nt1?ilcutilma",,,Mel1ynapoduu 6aurcapcrcu nacrortt" tt
,,Vnp,a+haTbe pltsux,lt^!-Ma", a ,y capaAHHrIKoM 3Balby acl{creHTa (1994-2004.) Ha
npeAtvIeTI{M a,, EaurcapcKo /7ocIo6' (ube " v,, AHaru3a dwtauc a " .
Y
HercamezopucaHo
Odp:rronna 4i enarnocr
rocrrj
()
rocJregrber us6 opa/peur6opa
(Haee,:mu cae aKmuaHocnru (rry6nurca4utje, eocmyjyfia uacmaea u MeHmopcmeo) u 6poj 6odoea cspcmqHw
l7
[Iedazowrcu pad u yuewthe
y
Hacmo'sHoM npoqec:v
ua vuueepsumemy:
V rorcy us6opnor repra{lAa y HacriaBur.rrrKoM 3Balry AoIIeHTa (2009-2014.) na EronoMcKoll1
(falcynrery Vnraneps.arrera y BaLrroj Jlyuu KituAlrAarKllrsa je LI3BoAI4JIa HacraBy Hul
cuujep
AoAr,rIIJIoMcKoM cTy.n14iy G quKJIyc oTyltuja) Ha npeAMeTy ,,EaHKapcm6o",
cllyAujy (It
,,OuuaHcujcKo ylpaBJr)arbe, 6arucirpcrno H oca:ryparue", 14 Ha ALInnoMcKoM
fr*nya cryanja)- ure [peAMer)r,,Eaurcapcxlt tveHqweHm", crrarajep,,OranaHcujcx<l
6aHraprc'rno u o{l[lypalse';', T'e 6wna aHfaxoBaHa Ha npeAMer]IM0
yrrpaBJbalr,e,
',,Mefiyuapoduu
JttoHetnapHu cl,tc'meA4" LI ,,)lfiefiyuapoduo 6aHKapcm6o", r;ry.lr'rjcr<ll
lporpaM,,MefyHapolqrra exoHolrnrlia".
HercamezopucaH0
Meumopcmao rcauduilama Ha II q;uwtyc cm7'duia:
Meurop Ha :raBpIIIHou (rtacre.O; paAY II rlur<nyca c'ryluja KaHAIlAara ,{ejau'a
UIypnaH IIoA HIBI4BoM ,,Cmpec mec,m y Qynru4ujw aH&nu3e ocienxlbuaocmLt
6aurcapcrcoz cet:ompa", Ex:OHoMCnu $al:ynrer YnHnep3uTeTa y Bamoj JIyUu.
Kamezopuja 2l.l:1.
4 6oda
Vnau rcouucuje sa od6pany t4azuct?tapcrcoz pada:
1. glan Kouracujr: sa o46pan:y Ma[Llc:mpctcor paAa noA Ha3IlBoM,,3uauaj, KapaKmep
u duuatturca cu6e ercouc,tvtuje y ),cto6tuMa mpaffiuquje" xanllvx.ra'fa Pa4oulrpra
[orrrysnn sa l]llonoltcxovr (farynre'ry Vuueepslrrera y Sarroj Jlyqr;
KamezoPtuja 2l.l1l.
2 6oita
2. t{lalr Kouucuj{3
3a oa6pauy Marr.rclapcrKor paAa IroA Ha3LIBIw ,,MarcpoeKoHoMck:u
eQtercmu rcpedutnue norunnme 6auarca y nocrnrcouQnurcmuoj Eocuu u Xep4ezoeuuu:"
KaHAr{Aara 3op,4114 Boponrah Ha EB:oHor\{cKoM (baKynrery Yuunepsl{rela y Barcrrj
Jlyuu;
Kamezoptuja 21.14.
2 6oita
3. 9nas Korvrucuje
sa oA6paEry Marnc'rapcKor paAa roA Ha3HBov',,EQercmu zno6a,urc
QuuaucujcKe tpu3e ua 1aurcapcKtr ceKmop Eocue u XepqezoruHe" KaHAHAara
Bpanne Tonutrllanronuh ua EroHour;rou rfar<ynrery Ynaeep:nreril
Jlyuu;
y
Farroj
Kameeoltuja 21.1,(.
2 6oita
4.
r{nan Kouuunje:a o46paLrry Marr4crapcKor paAa rroA Ha3rrBov ,,Ymuqaj cejemcrce
QuuaucujcKe tpu3e ua iiauarue ownoJ)Hoclnu 6aurcapcKoz ceKmopa y Eocuu u
Xe
TIHU,, KAHAI4AA:I'A C
a KoHarah Ha Erononacxona
18
Ynunepsurera. 1' Bamoj JIYUU;
Kamezopi,tja 21.14.
2 6oda
5. Ilpeacjerurar
Korvrucraje ga o.u6pany Marr{crapcKor paAa rtoA Htl3I,IBoM t,CKopuH?
uoden 3a nporyJ'eHy rcpedunnuoz prcuKa MoJntx u cpedn'ux npedysefta" $aH4Ia4ata
Jbn,'rane Copar na EronoucKoM (parynrery Ynunepsrarera y Farroj Jlyutl;
Ramezopltja 21.14.
2 6oda
6. glan
Kouucmje :a o46pany Marr,rcrapcKor paAa rIoA Ha3lrBorrr ,,Vrcpaz/batue
moKoM Horuatqux cpedcmaea 1aurce y pu3uqHuv4 ycnosutvla" KaHAI{Aara
Alexcau4pa Kosa.reenh ua Erouorrrcrou Saxynrery Ynunep3llTera y Earroj
Jlyqu.
Rameeopwja 21.14.
2 6oda
Meumopcmeo rcaududama 3a sa6p,a.tHu pad
np u,t o zy d o rcyu e u mat4u.i e) :
I
qurcnyca cmyduja (nomepda o MeHtwopcmry.y
6poj uudercca
Irlue u np%Luvre rcaudui)ama
damyu od6pcyue
86/03
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C lZtC
TEM I,I BIif
Kan4u4arrurra je ua I qnr<nycy cr:yguja 6prra v:enrop,4pIrnoMcKLIx paAoBa:
2009. foArrHe 8 crygenara,
2010. roAprHe 15 crygernara,
2011.roArzHe 1 1 cryAenara,
2012. roAr{He 18 cry.qeruara u
2013. roAr.rHe 16 crygeHara.
Kamezopuja 21.18.
Vrcynuo: 68 1odoea
YKYilAH
EPOJ EOATfBA:
84 6oda
23
4) CrpyuHa 4ielaruocr KtHAr{Aalrfl I
Crpyuua 4i e.narnoc'r rcaHArl1arar rpuj e rocJreArber urdopa/peus6opa
./
,,TpaucQopmttpuja ocuzypatba y Penydnuqw Cpncxoj",I4ncrvr\"r Exonoucxor
$axynrera, Yurznepsarer 1' Eamoj Jlyuu, ceu'rerra6pa, 200I .
Ramezopuja 22.12.
,/
,,Tpcrcuutme ocuzypatua u nocnogu ocuey,paeajyhw dpyutmqqa y Peny1nuqu
Cpncrcoj", Irlncraryr ExoHoucror (faryrrera, Vur,rnepsurer y Banoj Jlyuu, jyna,
2003.
Ramezopuja 22.12.
,/
,,Irlcnumuqatbe u eHaru3ta mpilcuwma daurcapcrcux xnujeuama ca acneKma
onmuMqrHoz pieuteraa sa Paseojuy 6auxy", I4ycruryr Exonoucror Saryrrera,
Ynunep:urer y Earroj Jlyqu, arrprura,2002.
Kamezopuja 22.lil.
,/
,,tr4cnumunarbe u aHqrtusa mp)rcuwma xnujttuama Paseojue 6aut<e Jyzoucmouue
Eepone (npojex'am II)",VIttcmaryr ExonoMcnor (parymera, Ynunepsrnrer y Eancrj
Jlyqu, jyna,2003.
Ramezopuja 22.L\.
'/
Irlspada cmydulie o eKoHol4lcrcoj onpaedaHocnxu uueecmuquje ,,Rynpeutrca pujerca",
Irlncruryr Erorroucxor (parcylrera, Ynunepar,rrer y Earroj Jlyqpr, 2003.
Kamezopuja 22.12.
./
u Hadsopuoz od6opa Hoce
1aruatryurce 6attrrce,
roAHHe ao 31 .12.2005. foAr,rHe.
a.d. Earca Jlyxa og
Vna
15.05.2003.
Kamezopuja 22.22.
'/
Jluryenqa 1anLrcapcrcoz mpeHepo Banknakndrzmie
2002. roAr{He
uz Opaux$ypra Ha Majuu,
Ramezopuja 22.2).
Crpyvna 4i elarno cr KaHgrrAarar
'/
(no c.iluj € rr0 cJreArb er n: 6 opa/p ell:6 opa)
Eanruh, [., IianrIEh, C. ,,tDuuaucuparce u suavaj ]vtcrJtoz 6usuuca y nadcmutlaruy
npuepedue QtilnusHocmu"../l ExoaoMcKrr rrorneAn. Bon. 15, 2l(2013), Koconcxa
Mnrponnqa, orp.89-1 1 I
z4
noA Ha3r4BoM ,,C)lrHaHcrapane r.r sHauaj MaJIor 1usnraca y rloAcrl4llarby nptlBpeAHe
a1rprBHocrv'o ce 6anu npo6JreMarr4KoM roju je lo aAeKBaraH MoAeJI Sunaucuparra
4jelanocu.r MaJrrdx rrpeAy3erHtrr(a 14 KaKaB je mnxon snavaj y rloAcrl{Ilarby onmre
rrpr,rBpeAHe aKTuBnoolu. flpe4rnrer [crpDKI{BaIba cy MoAeJII{ Qnuancuparsa Manof
6uz:nuca y p asnuj euI4M Tpxfl{IrrHI,IM eKoHouuj arvra.
pal
4a ce 4e(fuuuluy MoAeJII{, HaI}eAy KapaKTep[crnKe r'I ren4enquje y
(funancnparry Marror fiusrruca n 2qe$uunrue aAeKBaraH o4a6rap crpyKType $uuancupaBa
MaJrr4x lr cpeArbr,rx npenyseha ua (iazu AerepMlIHaHT'H Kao IIrro cy: eKoHoMcKa noJII4TI{Ka
pr crerleH
3eMJbe, perynarr,rBa, TpaAr4rlrja y pa:nojy Muulor 6uzuuca, cy6eenqr'rje
OcHosHu rlr4Jb paAa
je
nrorunaquj e MaJrux nperAy3erH[Ka.
Irlcrpaxranarre ce reMeJbH Ha AoKa3[Barby nocraB.JleHe xllrlorege Aa $uHancnpa6e u
rroAcrqrlarr,e pa:noja MirJror 6u:*ruca r,rMrrnrqupa pasnoj [pI{BpeAHe aKTLtBHocrlI I4
nonehame 3arlocJleHocttu.
Y pa:ujepaua
Kpr{3a BeoMa
je naxuo roKperarre u pa:noj
MaJIIax pI cpeAIbI,IX npe4yseha
pa4u 6pNer eKoHoMcnor parnoja H rropacra 3anocJleHocrll rI rrl,{xoBe (flercu6unHocrl4
nrro je je4an og :nauiljnlrx eJreMeHuta 3a H3JIa3aK rI3 Kplrce. Beoua je 6rarna rIoApIrIKa 14
nouoh MaJrrdM *r cpeArblrM npegy:ehnrraa rrpn orBaparby HoBof 6uzuucao rlopecKe
onarrrruqe y rrpBr{M roAr{HaMa o6asJrarba 4ienaurocrn, MapKerl,Iurra uouoh y cerMeuTy
ilpr.rcryrra rpxr4rrrry, rpuuancr.rjcK:a roApurKa Kpo3 o6es6jefuname noBoJbHLIx Kpe.{pITa,
canjero4anHa noAprrKia r,rcKycur{x npeAy3ernr{Ka rr r{3AaBalbe ny6nltKalluja u crpyrlHl,tx
Mara3rrHa ca HoBocrI4Ma I{3 IrocJIoI}Hor cnujera u npaBH}IM rlpottucllMa.
Pa":noj Mirnr4x r{ cpeArr,t4x npegyserha
r [peAy3erH]rrrrrBa y Peny6nuqu Cpucroj cacraBHla
cy .qr{o crpareruje pa:noja u sHa.rajHo .4orrpr,rHocr.r noAcrl,Iqarby [pI4BpeAHe aKrI,IBHocrH u
pacTy 3anocJIeHocTI4.
Peuy6nuqz Cpncr<lj onaj ceKrop je ao ca4a 6uo anauajno tfunaHcrajcKl4 rIoAp)KaH
flpeKo fpaHToBa Bra4e, KpeAura I,Innecruqnono-pasnojue 6anre u 6aHxapcKon ceKTopa,
Ha r<pe4nrnoj vru r5ecnosparHoj ocHoBr4. He saocraje [oApmKa HI4 y rlorneAy
Y
KoncaJrrr4Hra,
e4yxaqaje
v
r,rHc'rr.rryrlr{ouaJrHe no}AprrrKe
pa:nojy
MaJrr.rx
r4
cpeA}bI,IX
npegy:eha.
Auarorno creneHy rilpr.rBpeAHe pasnnjeuocru Peny6nure Cpncxe v pasnujeuocru
(fuHaHcrajcKor rpxlrnna y tfunaHcr{parby MaJrrix r{ cpe.4}br,rx rpeAy3eha 4ourauupajy
fpaHroBr.r BraAe
6auxapcnof ceKTopa, a BeoMa Mano cy 3acrylJbeHu (pou4onra
rrplrBarHr.rx uHBecrr4Topa. @ouAosr,r flpr{BarHr.rx anBecr}rropa 6u :uauajuo pa3Br,rnrr
npeAy3eTHr.rrrKr,r Ayx xr MoTr.rBarlujy :a ranonaqujava MaJTHX rrpeAy3eTHprKa, yrrrqanpr Ha
4ranepsu(fzxaqujy rbniD(oBr{x nop'r(fonuja, cranlap4rnraqujy r{ rrpeno3HarJbr4Bocr Aouaher
npor{3BoAa y per\4:oHilnHoM o.Kpyxerby mro 6u fro3HTr4BHo yrr4rlano Ha nehy
naprr.rqrrnarlujy uanor rpeAy3ernrarrrrBa y EAII r.r 3arocJreuocrrl y Peny6nuqu Cpncroj.
r.r KperAr.rrr.r
$unaucvparby Mrurrx r4 cpeArr,ux rpeAy3eha y Peny6tw\u Cpncroj u Eocua u
Xep{eronuHz Heonxc,lHo je crBopr.rrr.r av6ujenr 3a AuBep3ra$raxaqrzjy (funancujcxe
crpyKType paAI4 cMatrerra $axrropa pr.{3r{qHocrr4 y rrocnoBarby v uorunaquje MaJrLrx
rrpeAy3ernr4Kay norneAy auonaqtqja a rpajuujer 3aApxaBarba y 3aloqeroM nocJry.
Y
25
P:;,d-;pi;d;;;;;';;;;-;i;;}ii;,;i-;^;;yi;;i;i-;;;,6;i;i,Ll;jy-;*i;;
u docmynuux uodena Quuaucuparca u daie iacue npuiednoze aodena
ca acneKma tu1ffio6e
'usuuca
Quuaucupatua sa ceKnxop rilarc npuspede y Eocuu u Xepqezo*ltHu
eQercmuauocmu u eQiu,xacuocmu, qur4e je dam suouajau cmpyqHu donpuuoc y paseoi.
nocnoBHttx Quuaucuja ca acnemKa Quuaucupatba l4anoz 6usuuca.
Kameeopuja 22.3.
4 6ooa
./
Peqegenr rvronorpa(praje a)/Topa up .{parana C. Jonuh uo.q Ha3LIBoM ,fuanus'a
nepfiopaaHcu u mpaucQtopuaquja 1aurcapcrcoz cucmetfla Peny6nurce CpncKe",
2010.
Ramezopwja 22.12.
2 6oda
Vna
u Kouucuje 3at Komaqujy xapmuja od epuiednocmu ua
29.04.2011. roArane 4o jynil 2013. roAI,IHe
Ean'anyurcoj 6epsu og
Kamezopuja 22.12.
2 6oda
Vna
u Mefiyuapoduoz peqercu(rHoz od6opa HayqHo? uaconuca ,EKoHoJt4cKLt noznedu"
Exonoucror rfaxymera Vuunep:Hrera y llp.nrurrauu y Kocoecxoj MlrrpoBllqu oA
2013. ro.rruHe
Kamezopuja 22.12.
2 6oda
l0
YKYIIAH EPOJ EO]IOBA:
yKvfIAHr
Apyru KaHAuAar
BPOJ EOAOBA 3A'
r4 cBitKLr HapeAHra aKo r.tx
dodoett
IIPBO| KAHAI4AATA: 158 dodoea
uua (cne [oHoBJbeHo Kao 3a rrpBor nan4n4ara)
III. 3]..{KJbytIHO MIIIIIIJbEbE
Ha o6janmen Konxypc
y
AHeBrroM irr4cry ,,frac Cpncre" sa ras6op HacraBnr{Ka Ha
yxa
npeAMery ,,Eauxqlclno",
Haf{Ha o6ram llocronue (puuancuje, ua EronoMcKoM
@arynrery Yuunepsurera y Banqj Jlyqu, upujanurer ce je4na KaHAlrAarK:,rr+,a, W.{paralra
Earrruh, rpeHyrHo 3a.rocJleHa ua [ironorracrorr,r (faxynrery Vnunep3urera y Banoj Jlyqu y
HacTaBHUqKOM 3Barby iIOrIeHTa Ha OBOM rrpeAMery.
KauAurarrurra je Ao caAa 6upaua y capaAHr.rqxa 3Bar6a aclrcreHTa r4 Brrlrer acr4creHTa Ha
Eronoucrorvr (par<ymery Ynunell3r,rrera y Barroj Jlyrln, a rpoBena je z je4aH us6opuu
replloA (5 ro4una) y HacraBHr4lrKoM 3Barby .n:orleHTa Ha rrpeAMery ,,EaHxapcrBo", yxa
HayqHa o6racr lloc.noeHe (pranarrcvje Ha r.rcroM Sarcynrery. Y roxy 3aArler rae6opnor
nepl4oAa KaHAIrAarKnma je na l}conoucrorra $axynrery Yuunep3r4rera y Barsoj Jlyuu
uuenonana y 6 xotuucuja sa o46paHy Marr,rcrapcKor pa.Ila y cnojcrny qflaHa nwr
npe4cje4nuKa KoMnct4ie u 6utn.je uenrop Ha je4uou 3aBprrrHoM Macrep paAy II rlrlKiryca
cryrLrJa, re 68 sanpurHtlx A]rrnoMoKr,rx pa,qona I qnnryca cryluja.
26
.uocranrma 9 o6janreuux u peueH3l4paHl{x
o6jaubeHrIx oA rlocneAmer ra:6opa y HacraBHHrIK()
3Barbe AorIeHTa, o4 rojux ce nooe6no rrcrr{ile uonorpatpnja ,,Canpeneno 6aur<apcrBooo.
nacnoBa cy o6jannena pr peqeH3rrpaHa y ue!.6lapo4uoM HayrIHoM rlacorrlcy rojr'r
y3
Ha KonKyllc
KaHAr4,rlarTKr.rrba
"p"j"ry
HacJroBa oprrlrgaJrnof KapaKTepil,
je
,{na
Korr4pa ua SSCI ilucrw.
Haxos rr3BprrreHof 6o4oearra )' cKJraAy ca olpeldarraa fIpau,IJIHI4Ka o nocry[Ky I'I
ycnoBuMa us6opa fracraBHl4Ka H capaAHrrKa Ha Yirranep:r.Irery y Earroj JIy{u,
KaHAr{AarKrErra je ocrmapr{na yKyrrHo 158 6oaoea Ha ocHoBy ceoje nayvue, o6pa:oBHe .a
crpyqH e 4j
eraruocu{
nta
Marl4rlnolr Qaxylrery.
pI crpyqHe aKTI{BHocrt'I
AocraBJb,elurax AoKa3a, oqjene Ha)rqHe, o6pa":onne
KaHAuAarKr4rbe y nooneArbeM ras6,opHona repl{oAy I4 AorlprrHoca rcojn je cnojuru HayrIHnM
Ha ocuony
reopuju v npancv5 Kao I{ rlcrrylbeHocrpl oTIITIIX n noce6nrax
ycnoBa o6janrsenor l(<xxypca, I{iruucnja cMarpa Aia KaHArIAarKLIrba Ap ,{paraua Eamnh
racrryrbaBa cBe Heorrxo,4ne ycJroBrl roju cy rpor[I4cauu KonrypcoM Kao ra ogronapajyhrarw
paAoM Aana eKoHoncxoj
HactasHo-HafrHoM nujehy Exonoucxor
ra
Earroj JIyrIr4 Ceuar:y VHznepsurera y Banoj Jlyuu aa
(panynrera Yuranep:nlera
Lr3Bprrrrr us6op dp f'p,azarue Eaauuh y H&cmanHiluno 36ilIbe earupeduoz npo(tecopa Ha
np e dn e my,, E auxap c: nxn o ", y xrc a H ayqH d o 6n ac' m fI o cn o e n e Q uu au c ui e.
3aKoHcKrrM r.r rroA3aKotrcKr{M aKTlnlna r4 npeAnar(e
y
v*o.nrno
Ce; K""-til ;p"F;ritilrue ni"nrniil t-$n-il"o"-"rt,"e*t o6#il"
nr4cry cBr{x KaHAr4Aara
je na"eCir-putii
ca. HiBHaKoM 6poja ocnojerno< 6o4ona, Ha ocHoBy r<oje he 6uru $optr,Iylncau
3a
V Eanoj llyuu, 44.urur.20rr.roAl4lre
1.
[p
lparaua
Banru]h
15,8
flnaranonzh, upe4cj e4nr,rr
2.
3.
nuh, ulau
A
T.
5.
6.
a-7