Constitutional Amendments Strengthen the Independence of the CBCG and Montenegro’s European Integration
24/08/2026
The Parliament of Montenegro has adopted Amendment XXI to the Constitution of Montenegro, amending Article 143 and thereby guaranteeing one of the fundamental principles of modern central banking, the independence of the CBCG, through the country’s highest legal act.
The adopted amendments establish that the CBCG is an autonomous and independent organisation which reports on its work to the Parliament of Montenegro and whose operations are regulated by a specific law.
The adoption of the constitutional amendments ensures that Montenegro’s constitutional framework is aligned with the provisions of the Treaty on the Functioning of the European Union, representing an important step towards fulfilling Montenegro’s obligations under Negotiating Chapter 17 – Economic and Monetary Union. This creates the conditions for the legal framework governing the CBCG’s operations to be fully aligned with the Statute of the European System of Central Banks (ESCB) and of the European Central Bank (ECB), particularly with regard to the central bank’s full independence of.
Upon Montenegro’s accession to the European Union, the CBCG will become part of the ESCB and will be institutionally integrated into the community of national central banks and the ECB.
The CBCG has already been preparing intensively for this process through regulatory, institutional, organisational and operational transformation. In cooperation with the De Nederlandsche Bank, the Banque Nationale de Belgique, the Bundesbank, the Národná banka Slovenska, and with the support of the European Commission, the CBCG is continuously strengthening the alignment of its regulatory and institutional capacities and preparing for the future obligations arising from membership of the EU and the ESCB.
Therefore, the constitutional confirmation of the CBCG’s independence is an important part of Montenegro’s broader European transformation and it demonstrates the country’s institutional readiness to assume the rights and obligations arising from EU membership. It further strengthens legal certainty and institutional stability, as well as the confidence of citizens, investors and international partners in Montenegro’s financial system.
The CBCG expresses its gratitude to the Parliament of Montenegro, and to the Members of Parliament who supported the constitutional amendments and thereby significant contributed to strengthening the CBCG’s independence and fulfilling one of Montenegro’s important obligations on its path towards EU membership.
The broad parliamentary support for this reform is particularly encouraging, confirming that European integration and the building of strong and independent institutions are priorities to which Montenegro remains firmly committed.
Within the scope of its responsibilities, the CBCG will continue to actively contribute to Montenegro’s European transformation, with a strong commitment to safeguarding financial stability, further aligning with European standards and achieving full institutional readiness for Montenegro’s membership of the European Union.