Sitemap

Restoration of Direct Payments between Montenegro, Serbia, and Bosnia Set for November

Source:

CorD Recommends

Serbia, Slovenia, and Hungary Merge Power Exchanges in Energy Pact

In a significant move to streamline and...

Peter Pellegrini Wins Slovak Presidential Election

Peter Pellegrini, the candidate from the ruling...

Strategic Energy Partnership Established Between Serbia and France

The Serbian Government adopted a Memorandum of...

Serbia-France Innovation Forum Begins: Innovate for the Planet! Play Green!

At the Serbia-France Innovation Forum titled 'Innovate...

HDZ Claims Victory in Croatian Elections but Lacks Majority

The Croatian Democratic Union (HDZ), the country's ruling party, emerged as the winner in Wednesday's parliamentary elections. Despite their...

Milšped Group Launches Direct Rail Line Between China and Serbia

Milšped Group, a leader in regional transportation and logistics, has announced a new partnership with Shijiazhuang International Land Port...

Miroslav Lajčak Appointed New EU Ambassador to Switzerland

Miroslav Lajčak, formerly the Special Representative for the Belgrade-Pristina dialogue, has been appointed as the new EU Ambassador to...

French Embassy and Institute in Serbia Launch ‘Rhythm of French Culture’ Event Series

The French Embassy and the French Institute in Serbia are organising an event called Rhythm of French Culture. This year,...

Albania to Utilize Drones in Anti-Cannabis Campaign

Albania is set to enhance its anti-cannabis efforts by deploying advanced drone technology, announced Interior Minister Taulant Bala. Starting...

Direct financial transactions between Montenegro, Serbia, and Bosnia and Herzegovina are poised to recommence in November after a gap of 16 years. The move, heralded by Podgorica’s news outlet Vijesti, will be orchestrated through the Universal Capital Bank (UCB), the only bank that has shown interest in entering the clearing system of payments amongst the three nations.

This initiative will be a boon for both individuals and businesses within these countries, sparing them from the higher costs and delays previously incurred by using correspondent banks abroad. Payments will now be expedited, ensuring funds are transferred on the same day of payment.

A previous attempt in September 2007 to streamline payment services had led to an agreement between the central banks of the three nations; however, it only functioned between Serbia and Bosnia and Herzegovina due to a lack of interest from banks in Montenegro. With UCB’s involvement, Montenegro will now be integrated into the system.

Pročitajte još...

Galenika Strengthens Market Position with New Strategic Partnerships

Galenika has significantly expanded its presence in the pharmaceutical sector by securing an exclusive distribution agreement with Cantabria Labs, a leading Spanish dermatological brand....

HDZ Claims Victory in Croatian Elections but Lacks Majority

The Croatian Democratic Union (HDZ), the country's ruling party, emerged as the winner in Wednesday's parliamentary elections. Despite their victory, preliminary results indicate that...

The National Bank of Serbia (NBS) has been designated as the system operator. The current phase involves rigorous testing, with UCB expecting imminent discussions with the NBS to finalize the message exchange system, leading to a comprehensive clearing cycle test with the NBS and the Central Bank of Montenegro.

Related Articles

Serbian Red Cross Launches Pioneering Migration Platform

Responding to a significant increase in migrant numbers, the Serbian Red Cross has unveiled a cutting-edge digital platform, earning accolades as the premier digital...

Serbia, Slovenia, and Hungary Merge Power Exchanges in Energy Pact

In a significant move to streamline and enhance energy trading in the region, Serbia, Slovenia, and Hungary have unified their electric power exchanges. This...

Strategic Energy Partnership Established Between Serbia and France

The Serbian Government adopted a Memorandum of Understanding between the Government of Serbia and French Electric Power Company (EDF), on establishing a framework for...

Jakov Milatović, President of Montenegro

Restoring Our Traditional Partnership

I consider that we achieved a turnaround in economic and political relations between Montenegro and Serbia in the first year of my mandate, but...

Free Access to the Western Balkan Labour Market

Little Guys Support Each Other

Creating a single labour market in the framework of the Open Balkan initiative is useful, but also has limited scope. It will contribute to...

By Ivan Nikolić, editor of monthly publication MAT

The Secret of Serbia’s Success

Production of higher technological quality is a key means and catalyst for Serbia’s economic resilience against external shocks and a result of the successful...

Comment

Balancing Progress and EU Alignment

Serbia’s digital transformation, which has been spearheaded by Ana Brnabić, has achieved remarkable progress, but still requires swift harmonisation with EU regulations to ensure...

Economic Partnership Flourishes at Banja Luka Expo

At the heart of regional economic dialogue, Serbia steps into the limelight as the chosen partner for the International Fair of Economy in Banja...