TITLE: Montenegro's Central Bank Adopts Amendments to Financial Leasing and Conglomerates Laws
BODY:
On May 11, 2026, the Council of the Central Bank of Montenegro (CBCG), chaired by Governor Irena Radović, adopted several regulatory amendments aimed at strengthening the financial services framework and modernising the payment system.
The Council adopted the Draft Law Amending the Law on Financial Leasing, Factoring, Purchase of Receivables, Micro-Lending and Credit-Guarantee Operations. The amendments enhance corporate governance, internal control systems, and risk management requirements for financial service providers. A key novelty is the introduction of combined financial operations companies, which—subject to CBCG approval—may simultaneously conduct financial leasing, factoring, and micro-crediting activities. These entities face stricter capital, organisational, staffing, and technical requirements, including a minimum cash component of initial capital set at two million euros.
The Council also adopted the Draft Law Amending the Law on Financial Conglomerates, fully aligning Montenegro's regulatory framework with relevant European Union directives. This alignment supports closing Negotiating Chapter 9 – Financial Services as part of Montenegro's EU accession process.
Additionally, the Council adopted the Decision Amending the Decision on Minimum Value of Payment Transactions to be Processed in RTGS System, increasing the threshold for mandatory execution from 1,000 to 3,000 euros. This amendment facilitates harmonisation of the small-value payment system and more efficient transaction processing, forming part of preparations for developing a domestic instant payments system within the TIPS Clone project.
The Council also adopted amendments to the Decision on the Central Registry of Transaction Accounts and Deposits and Safe Deposit Boxes to align with tax identification number provisions.
**Reference:**
Central Bank of Montenegro Press Release, May 11, 2026