National Bank of Serbia (BetaPhoto/Ana Slovic)
As of Dec. 11, direct bank transfers between Serbia and Montenegro will be possible, allowing cheaper and quicker monetary transactions for private citizens and companies alike, National Bank of Serbia (NBS) Governor Jorgovanka Tabakovic has announced.
The NBS operates interbank and international clearing of foreign exchange payments for a network that has so far comprised twelve banks with headquarters in Serbia – not including the NBS itself – and seven banks from Bosnia and Herzegovina. This system now includes Montenegro’s Universal Capital Bank as well.
Entry into the network will enable Universal Capital to offer its clients same-day euro transfers to other banks in the system at far lower cost than required for the – much slower – alternatives.
Tabakovic has invited other Montenegrin banks to join the NBS Interbank Clearing of FX Payments and International Clearing of FX Payments system.
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