Podgorica, (MINA-BUSINESS) – According to the Montenegrin Banking Association (UBCG), the banking sector supports the amendments to the Law on the Prevention of Money Laundering and Terrorist Financing, as well as the state’s efforts aimed at strengthening the integrity of the financial system, increasing the transparency of financial flows, and aligning with the EU acquis.

The UBCG Secretary General Marija Sukovic said that banks strongly reaffirm their stability, responsibility, and full readiness to follow and implement the highest international and European standards, alongside continuous investment in development, digitalization, and service improvement, with the goal of providing clients with a high-quality, secure, and reliable banking experience and remaining a long-term trustworthy partner for citizens and investors.

“It is important for the public to properly understand that banks act in accordance with legal obligations and risk assessments, and are not an obstacle to real estate transactions or investments. When funds are of legal origin and documentation is in order, there is no reason for concern, because banks in such cases establish business relationships smoothly and efficiently,” Sukovic stated in a press release.

She added that implementation of the law does not constitute an additional administrative burden or a discriminatory factor, but rather a standard fully aligned with international practices and consistently applied in modern financial systems.

“The law does not prescribe an obligation for all participants in real estate transactions to have an account in Montenegro; it is sufficient that at least one participant in the legal transaction conducts the payment transaction through an account with a credit institution in Montenegro. This ensures transparency and monitoring of financial flows in accordance with the objectives of the law,” Sukovic explained.