(pristop) Banks no more have to ask for permission of National Bank of Serbia when investing money abroad

“Authorized banks will no more be obliged to ask for permission of the National Bank of Serbia when they want to invest dinars or effective foreign currency abroad, which is regulated by the changes of the Decision on terms and method of personal and physical transfer of means of payment abroad or from some foreign country”, NBS announced.

The afforementioned obligation was introduced in the time when National Bank had to control all segments of banking operations and when authorized bank were mainly owned by the State. After restructuring of banking sector, most of the banks became stock companies. There is also big number of foreign banks in Serbia today and their operations are matters of their business policies. Being of the opinion that the transfer of domestic currency and effective foreign currency abroad represents regular banking operation and that the keeping of present solution would mean further unneccessary administering and involving of State into banking operations, the National Bank freed banks from another bureaucratic procedure that was related to obtaining of permissions for carrying the money out of the country.