The right to regulate the monetary system represents one of the immmanent features of state sovereignity. The Central bank is an institution that is usually given the authority to conduct a country's monetary policy. Slovenia entered the European Union in 2004 and the Bank of Slovenia became the part of the Eurosystem and its Governor is a memeber of the Governing Council of the ECB that decides about the monetary policy of the euro area. At the moment Croatia is just at the front of the door to enter the European Union. Both countries were parts of socijalist ex-Yugoslavia and they did not pass the long way on their own but their experiences with an indipendent central bank cannot be neglected. Therefore, it is useful to explore how central banking was organised in the past: before SFRJ, in the SFRJ, and after gaining independence.