Direct payment transactions between Serbia, Montenegro established

She explained that participants will be able to perform transactions for their clients on the same day for orders sent by 2 pm.

The execution of transactions between banks from countries of the region is made possible on significantly more favorable terms compared to alternative payment methods that are currently available, the NBS quoted Tabakovic as saying.

In addition, the NBS, as the operator of the International Clearing of Foreign Exchange Payments, performs all activities for other central banks and banks from the territory of other countries participating in this system free of charge, i.e. it does not charge any fees to central banks and banks from the territory of other countries participating in the system.

Tabakovic said that the NBS is the operator of the Interbank and International Clearing of FX Payments that 12 commercial banks from Serbia, the NBS and seven commercial banks from Bosnia and Herzegovina have participated to this day.

She added that Universal Capital Bank AD Podgorica recognized the importance and numerous advantages offered by this system and expressed its interest to participate in the international clearing system of the NBS.

As of Monday, Universal Capital Bank AD Podgorica is the first bank from Montenegro to participate in the NBS International Clearing of FX Payments and it will have the opportunity to offer its clients the execution of transactions in euros on the same day, at a much lower cost, said Tabakovic.

The Governor added that this enables the Montenegrin citizens and economy not only to have direct payment operations with Serbia, but also with the citizens and economy of Bosnia and Herzegovina, said the NBS.