Regarding the content of the open letter of the Demokrate’s MP Zdenka Popović, we have to point out that the Central Bank of Montenegro (CBCG) is responsible for supervising the operations of the Investment and Development Fund (IDF) under the Law on the Investment and Development Fund. It is responsible only for supervising the Fund’s compliance with the CBCG regulations, i.e. concerning risk management and capital adequacy.
In this sense, the CBCg does not have the authority to issue orders or measures to the IDF, except those concerning risk management or capital adequacy.
We hereby point out to Article 86 of the Banking Law. Under this Article, the CBCG may obtain from banks only the data necessary for exercising its supervisory function, including data that represent banking secret. It may use such information exclusively for the purpose for which they have been obtained and shall not make it available to third parties except in cases prescribed by the Law.
In addition to the Law, and taking into account the content of the MP Popović’s request, we have to point out the provisions of the Decision on Credit Registry (OGM 39/18, 18/19) as a bylaw regulating the types of data and information shall be submitted to the CBCG to keep the Credit Register, the manner and deadlines for submitting such data, and the conditions and manner of using the data from the Credit Registry.
More specifically, it is important to quote Article 11 of the Decision. This Article sets outs that, inter alia, data from the Credit Registry may be made available to the persons whose data on debts are kept with the Credit Registry, including persons who are guarantors/warrants/co-debtors under those debts.
Bering in mind the above and respecting the subject of MP Popović’s addressing, the CBCG is not able to act upon the request, as MPs neither belong to the category of entities listed in Article 85 paragraph 2 of the Banking Law to which data that represent a banking secret can be made available, nor to the category of users of data from credit indebtedness in terms of Article 11 of the said Decision.
Therefore, the CBCG is not the address for requesting such information. However, based on the above, the MP Popović may directly address the IDF with the same request.