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Foreign Investors Council
47, Gospodar Jevremova Street, IV Floor, 11000 Belgrade, Serbia
Phone: +381 11 3281 958, 3281 965
e-mail: office@fic.org.rs

MENI

Recent Activities

12. April 2019.

The Foreign Investors Council calls for predictability and stability of the banking sector

Belgrade, April 12 2019 – The Foreign Investors Council advocates to secure legal certainty and stability of the regulatory framework in the banking sector.

In the recent period we have been witnessing actions which go in the direction of retroactive changes of the rules regarding several important banking institutes, in particular loan processing fee and loans in foreign currencies (CHF) issued to physical persons. The Foreign Investors Council is fully in favour of modernizing Serbian regulatory framework, but we firmly believe this should be done in a way which would not endanger investors’ confidence and undermine legal certainty on the Serbian market.

We extend support to finding solution through potential introduction of lex specialis, but at the same time convey that it is of the utmost importance that the new regulation creates a clear legal ground and resolves all open issues which are burdening the operations of the banking industry. Moreover, it is essential that the new framework keeps retroactive changes at a minimum and, thus, that it reconfirms and revalidates trust in the legal system of the Republic of Serbia.

We also reiterate that organizing close consultations with the private sector, in this case – banks, is crucial for ensuring that the new regulation is implementable and sustainable. We make this appeal to all relevant Authorities not only on behalf of our members from the banking sector, but on behalf of all of our members. It is in our mutual interest to make sure that the trust and confidence in the legal system in Serbia is preserved and that reforms are continued in a predictable and sustainable way.

 

 

About FIC:  From an independent business association created by 14 companies, we stayed faithful to our principles and grew to gather around 120 companies from all around the globe who have invested more than EUR 33 billion and directly employ over 100,000 people in Serbia compared to EUR 150 million of investments and 3.160 employees in 2003!. FIC main goal is to influence the improvement of business climate in Serbia by making concrete reform proposals and building a business portal for communication with the authorities in Serbia. FIC is also focusing on promoting solid business ethics and high corporate governance principles within the organization and towards local companies, the Government, and other external stakeholders. Through support and active engagement of membership, FIC has proven to be a strict guardian of the business community interests and at the same time a reliable partner to the Government of Serbia and other relevant stakeholders.

 

 

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