Regulatory Alerts2025-01-01
Decision on the Detailed Method, Requirements, and Procedure for the Consumer Creditworthiness Assessment
The Council of the Central Bank of Montenegro issued this Decision to prescribe the detailed method, procedure, and requirements for assessing consumer creditworthiness. Creditors are mandated to rigorously verify income history, existing obligations, and future risks to prevent over-indebtedness, with specific protocols for self-employed individuals and loans extending beyond retirement age. The regulation further requires comprehensive documentation retention and internal controls to ensure loan decisions are based on accurate information and available for regulatory inspection.
Share