Regulatory Alerts2020-01-01
Decision Amending the Decision on the Structure and Conditions for Transaction Account Opening and Cancelling
The Council of the Central Bank of Montenegro issued this decision to amend regulations governing the opening and closing of transaction accounts. The amendments introduce electronic identification for account requests, allow for the automatic cancellation of dormant zero-balance accounts, and streamline documentation requirements by reducing mandatory stamp and signature verifications. Additionally, the decision establishes specific procedures for handling transaction accounts during bank mergers and clarifies the definitions of residents and non-residents for regulatory purposes.
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