Regulatory Alerts2026-01-01
Decision on Banks’ and Central Bank of Montenegro Actions until the Beginning of the Implementation of Regulations Governing Establishment, Operations and Supervision of Banks
The Council of the Central Bank of Montenegro issued this decision to maintain regulatory continuity until the new Law on Credit Institutions takes effect. It mandates that banks continue operating under the previous Banking Law and its enabling regulations during the interim period. Additionally, the Central Bank of Montenegro is authorized to issue, revoke, and supervise bank licenses using the same existing legal framework.
Pursuant to Article 44 paragraph (2) item 3) and in conjunction with Article 28 paragraph (1), Article 29 paragraph (1) and Article 30 paragraph (1) of the Central Bank of Montenegro Law (OGM 40/10, 46/10, 06/13, 70/17), the Council of the Central Bank of Montenegro, at its meeting held on 15 February 2021, passed the following DECISION ON BANKS’ AND CENTRAL BANK OF MONTENEGRO ACTIONS UNTIL THE BEGINNING OF THE IMPLEMENTATION OF REGULATIONS GOVERNING ESTABLISHMENT, OPERATIONS AND SUPERVISION OF BANKS Article 1 Until the beginning of the implementation of the Law on Credit Institutions (OGM 72/19, 8/21) or until passing and entering into force another law governing temporarily the implementation of the regulations concerning the establishment, operations and supervision of banks, the banks shall operate applying the legal requirements that had been established by the Banking Law (OGM 17/08, 44/10, 40/11, 73/17) and enabling regulations passed under that law. Article 2 Until the beginning of the implementation of the Law on Credit Institutions (OGM 72/19, 8/21) or until passing and entering into force another law governing temporarily the implementation of the regulations concerning the establishment, operations and supervision of banks, the Central Bank of Montenegro shall, pursuant to the Central Bank of Montenegro Law (OGM 40/10, 46/10, 06/13, 70/17), issue and revoke bank licenses, grant and revoke approvals and supervise banks applying the legal requirements that had been established by the Banking Law (OGM 17/08, 44/10, 40/11, 73/17) and enabling regulations passed under that law. Article 3 This Decision shall enter into force on the day following that of its publication in the Official Gazette of Montenegro. Decision number: 0101-1113-2/2021 CHAIRPERSON Podgorica, 15 February 2021 GOVERNOR, Radoje Žugić, m.p.