Regulatory Alerts2021-01-20
Decision on the Terms and Conditions of Using Foreign Financial Credits for Purposes Set out in Article 21, Paragraph 2 of the Law on Foreign Exchange Operations
The Executive Board of the National Bank of Serbia issued this Decision to regulate the use of foreign financial credits by residents for purposes other than import payments or foreign construction financing. The regulation mandates a standard one-year grace period before repayment begins, though it grants exemptions allowing earlier repayment for credits sourced from European Union member states or specific international financial organizations. Additionally, the Decision establishes reporting obligations requiring residents to submit credit agreements to the National Bank and repeals previous regulations on this matter.
Share