Catalog & market information for bank notes issued by Nezavisna Država Hrvatska

Following the German invasion on 6 April 1941, the Royal Yugoslav Army unconditionally surrendered on 17 April. Subsequently the territory of Croatia, Bosnia and Herzegovina, and the region of Syrmia became a puppet state called the Nezavisna Država Hrvatska (Independent State of Croatia, NDH), which was ostensibly a monarchy, but in reality an occupied condominium of Germany and Italy ruled by fascist ultranationalist Ante Pavelić. On 10 May 1941, the Hrvatska Državna Banka (Croatian National Bank) was established with its headquarters in Zagreb. It took over all of the responsibilities, branches, and assets of the former National Bank of the Kingdom of Yugoslavia in the territory of the Independent State of Croatia. The bank operated under the direct supervision of the Minister of National Economy, Lovro Sušić. In fact, the first issues of 1941 have no mention of the bank, only the Independent State of Croatia and its ministers as signatories.