OGRANIČENJA I MOGUĆNOSTI RAZVOJA DUŽNIČKIH INSTRUMENATA U REPUBLICI SRPSKOJ – OBVEZNICA KAO ALTERNATIVA KREDITU
THE LIMITATIONS AND POSSIBILITIES OF DEBT INSTRUMENTS DEVELOPMENT IN THE REPUBLIC OF SRPSKA - BONDS AS AN ALTERNATIVE TO LOANS

Summary/Abstract: One of the possible ways to obtain funding from external sources is issuing bonds. It is a classic credit relationship between the issuer and the purchaser of bonds. When comparnig bonds turnover with total turnover on the Banja Luka Stock Exchange, it can be seen that the bonds became increasingly important market material. Furthermore, compared to the risk of investing in shares, bonds are less risky. Accordingly, it is expected to have further interest in this kind of investment and fundraising. In addition, banks as issuers of bonds can provide long-term sources of funds to finance their long-term projects. Issuance of bonds in the future will provide an additional stimulus to the growth of the domestic capital market.

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