On 1st January 2023 the euro becomes the official currency in the Republic of Croatia. Croatia thus becomes the 20th country where euro is the official currency, and around 340 million citizens of the European Union already use it.
The entire year 2022 was marked by preparations for the introduction of the euro. In Zagrebačka banka we were intensively working on preparations and upgrading the system in order to make the transition as easy and simple as possible for our clients.
From January 1, 2023, exchange rates will be expressed using the indirect method in which euro (EUR) is the base currency, and the other currencies are variable currencies.
We are informing points of sale about the impact of introducing the Euro as the official currency in the Republic of Croatia on the agreed service of Card Acceptance on the EFT POS and/or Internet channel owned by the Bank or the Processor.
For business entities that do business with cash, in order to be ready to operate with the new official currency, the euro, from 1 January 2023, it is important to identify the needs for the indirect frontloading of euro cash in a timely manner.
In accordance with the Law on the introduction of the euro as the official currency in the Republic of Croatia on January 1, 2023, and the Regulation of the Croatian Financial Services Supervisory Agency on informing clients of financial service providers about the introduction of the euro as the official currency of the Republic of Croatia, we are informing our clients about the procedure, conditions and all essential elements of converting kuna into euros and the impact of the introduction of the euro on previously contracted financial services.
In accordance with the Act on Introduction of Euro as the official currency in the Republic of Croatia we are sending notices to our clients legal entities about the introduction of the euro as an official currency in the Republic of Croatia on January 1, 2023 and about the important elements of conversion.
We introduced the dual display of prices and monetary amounts in HRK and EUR for consumers as a part of our preparations for the adoption of the euro. The dual display will remain in force until the end of 2023.
On 12 July, the Council of the European Union made the decision on Croatia’s entry into the Eurozone. This decision was preceded by the European Commission’s and European Central Bank’s progress report, which took a highly positive view of Croatia.
Zagrebačka banka is a signatory to the Ethical Codex for the introduction of the euro as the official currency in the Republic of Croatia.
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