SERBIA: NBS draws up the Draft Law on Insurance

30 May 2014 —
Within an all-encompassing and thorough reform of our economic and legal framework, pursuant to its mandate, the National Bank of Serbia has drawn up the Draft Law on Insurance, Draft Law on Payment Services, Draft Law Amending and Supplementing the Law on Foreign Exchange Operations and Draft Law Amending and Supplementing the Law on the Protection of Financial Services Consumers.  
The proposed solutions in the Draft Law on Insurance create the necessary preconditions for further growth and development of the insurance activity and protection of users of financial services, improved efficiency and better quality operation of insurance companies, improvement of financial discipline in the insurance market, gradual alignment with the acquis of the EU and the outcome of negotiations between the Republic of Serbia and the World Trade Organization in this area.
The Draft Law on Payment Services creates a unique and comprehensive set of rules for rendering payment services in the Republic of Serbia and establishes conditions for improved efficiency of payment operations, better protection of users of payment services and improvement of competition in the payment services market. At the same time, the Draft Law ensures alignment with the acquis of the EU in the area of payment services, electronic money and the finality of settlement in payment systems. The Draft Law Amending and Supplementing the Law on Foreign Exchange Operations and Draft Law on the Protection of Financial Services Consumers aim to ensure smooth implementation of the new legal framework for payment services, but primarily serve to remove practical problems identified in the course of their implementation.


Read the full story
SERBIA: NBS draws up the Draft Law on Insurance
2372 views
Share |