Governer Žugić Meets the Ambassador of France and Cheffe du Service Économique Régional

07/03/2022

The Governor of the Central Bank of Montenegro (CBCG) Radoje Žugić met with the Ambassador of France to Montenegro, Cristian Timonier, and Cheffe du Service Économique Régional Florence Dobelle. 

The Governor informed his interlocutors about the current situation in Montenegro’s banking sector, emphasising that banks are stable, well-capitalised and profitable. “We are closely following the current events to be prepared for possible market disturbances and preserve the financial system’s stability, which is our basic competence,” the Governor said. Concerning the priorities of the CBCG in strengthening internal capacities, the Governor pointed out that “special attention is paid to the further professionalisation of the staff in the field of supervision and prevention of money laundering.”

Ms Dobelle pointed out that these areas are the most important for the CBCG as a financial market supervisor. Moreover, harmonisation of Montenegro’s regulations with SEPA (Single Euro Payment Area) standards is essential to enable the functioning of the single market for payment services performing non-cash payment transactions in euros.

Ambassador Timonier announced a regional conference on combatting corruption, which will discuss the regulatory framework governing this area, intending to harmonise regional policies and practices. Governor Žugić gave his full support to the organisation of the announced event.

Governor Žugić also emphasised that the CBCG has excellent communication with the Banque de France. He expressed the expectation that the cooperation between the two institutions in the coming period will be even more intensive and meaningful.