Central Bank doesn`t know how much the foreign debt of Montenegro is
- Central Bank doesn`t know how much the foreign debt of Montenegro is
- Post By daniloc
- 11:59, 6 decembar, 2001

Podgorica, (Montena-business)- The Central Bank of Montenegro (CBMN) has no precise information on the amount of Montenegrin debt towards foreign creditors from London and Paris Club, because. As the director of CBMN Milojica Dakic explained, CBMN still compare it’s documents to documents of NBY (National Bank of Yugoslavia).
At today’s meeting of the Council of the Bank Union, financial organisations and insurance, Dakic said that the information of the CBMN were more relevant for Montenegro, than NBY’s information.
Dakic said that CBMN these days would, after finishing control, edit more working permissions to other Montenegrin banks, even though, as he claimed “control of these banks is a continuing process which includes the banks that already got the working permission”.
”The CBMN is actively engaged by working permissions of commercial banks, and it controls and watches the whole bank system. In cooperation with foreign investors, we are now creating the third version of the Law on banks” said Dakic.
The director of Control Sector in CBMN, Petar Drakic announced that the permissions probably would be given to Niksicka Bank and Pljevaljska Bank, which had managed to provide founding capital of DEM 5 million. He said that Beranska Bank and Jugobanka from Podgorica had an emission of shares, and that if somebody bought their shares these banks would get working permissions as well.
Podgoricka Bank, Hipotekarna Bank, Euromarket Bank and Montenegrin Commercial Bank has already fulfilled the conditions of the Law on Banks.
The director of CBMN repeated that the first contingent of Euro would arrive in Montenegro by the end of the year and that the quantity would be enough in the beginning for working with cash.
“The conversion of money is a chance to collect citizens’ savings and to return it to the banks. There is no reason for the citizens to doubt the commercial banks with working permission and saving money in these banks” claims Drakic.
According to Dakic, CBMN will, in a special decision by the end of this year, define what jobs are exchanging jobs and who can do it.
“The exchanging jobs are a necessity for citizens, and the conversion into Euro is an obligation defined by the law on CBMN. That’s why it is logical statement of the CBMN that the conversion should be free, while the exchange jobs should be paid by the clients” said Dakic.
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