Podgorica, (MINA-BUSINESS) – Several documents aimed at strengthening the regulatory framework, improving supervision over financial service providers, and modernizing the payment system were discussed at today’s meeting of the Central Bank Council.

The Council adopted the Draft Amendments to the Law on Financial Leasing, Factoring, Receivables Purchase, Microcredit Lending, and Credit-Guarantee Operations. 

“The draft was prepared with the aim of further improving the existing regulatory framework and adapting it to market development, new business models, and risks in the operations of financial service providers,” the CBCG said in a press release.

The Council also adopted the Draft Amendments to the Law on Financial Conglomerates, fully aligning the regulatory framework in this area with the relevant European Union (EU) directive.

This harmonisation is one of the preconditions for closing Negotiating Chapter 9 – Financial Services.

The Council also amended the Decision on the Minimum Value of Payment Transactions that must be processed in the RTGS system, increasing the threshold for mandatory execution of payment transactions in the RTGS system from €1,000 to €3,000.

The Council also adopted amendments to the Decision on the Central Register of Transaction Accounts, Deposits, and Safe Deposit Boxes, in order to align it with the provisions of the Rulebook on the Detailed Method of Determining Tax Identification Numbers.