CBCG Prepares Instant Payments System and Continues Enhancing the Regulatory Framework
11/05/2026
At today’s session, the Council of the Central Bank of Montenegro, chaired by Governor Irena Radović, discussed several acts aimed at further strengthening the regulatory framework, improving supervision over financial service providers, and modernising the payment system.
The Council adopted the Draft Law Amending the Law on Financial Leasing, Factoring, Purchase of Receivables, Micro-Lending and Credit-Guarantee Operations. The draft was prepared to further enhance the existing regulatory framework and adapt it to market developments, new business models, and operational risks faced by financial service providers.
The proposed amendments strengthen requirements in the areas of corporate governance, internal control systems, and risk management, thereby improving CBCG supervisory mechanisms, encouraging safer operations of these entities, and providing additional protection to clients and the whole financial system. This further reinforces the integrity of the financial system and fulfils the requirements for continued alignment with European standards.
One of the key novelties is the introduction of the possibility to establish a company for combined financial operations, which, subject to CBCG approval, would be able to simultaneously conduct financial leasing, factoring, and micro-crediting activities. Given the complexity of such a business model, stricter capital, organisational, staffing, and technical requirements have been envisaged, including a minimum cash component of the initial capital amounting to two million euros.
The Council also adopted the Draft Law Amending the Law on Financial Conglomerates, fully aligning the regulatory framework in this area with the relevant European Union directive. This alignment represents one of the preconditions for closing Negotiating Chapter 9 – Financial Services.
The Council also adopted the Decision Amending the Decision on Minimum Value of Payment Transactions to be Processed in RTGS System, increasing the threshold for mandatory execution of payment transactions in the RTGS system from 1,000 to 3,000 euros. This amendment creates the conditions for harmonising the small-value payment system and more efficient transaction processing, while also forming part of the preparations for the development of the domestic instant payments system within the TIPS Clone project, alongside ensuring adequate technical implementation by banks.
At this meeting, the Council also adopted the Decision Amending the Decision on the Central Registry of Transaction Accounts and Deposits and Safe Deposit Boxes, to align it with the provisions of the Rulebook on the Detailed Method for Determining the Tax Identification Number.
The Council also adopted decisions on using and packaging gold and silver jubilee coins issued for the 25th anniversary of CBCG and the 20th anniversary of the restoration of Montenegro’s independence, thereby creating the conditions to offer these commemorative coins to interested buyers.
At today’s meeting, the Council also discussed and adopted other materials within its competence.