Regulatory Alerts2021-01-01
Decision on Financial Services Providers' Reporting to the Central Bank of Montenegro
The Council of the Central Bank of Montenegro issued this decision to regulate the types, formats, and deadlines for financial reporting by micro-credit institutions, leasing companies, factoring companies, receivables purchase firms, and credit-guarantee funds. The regulation mandates monthly and quarterly submissions of detailed balance sheets, profit and loss statements, and specific operational data, with strict deadlines ranging from eight to twenty days after the reporting period. It further requires electronic submission of these reports and mandates additional disclosure of executive compensation for the first quarter of each business year.
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