A safe and efficient payment system is essential for the proper functioning of the financial system.
Pursuant to the Central Bank of Montenegro Law, the Central Bank of Montenegro is responsible for safe and efficient payment systems in Montenegro. In accordance with the Law, the CBCG is authorised to regulate, oversee and improve the functioning of the payment system in Montenegro.
Since a safe, efficient and effective payment system is an important segment of financial stability, the CBCG is committed to its continuous improvement through the implementation of international standards, principles and best practices in the functioning of modern payment systems and payment transactions in general.
The Payment System Law regulates payment system transactions, in particular payment services, transparency of conditions and obligations regarding information on payment service provision, the rights and obligations of payment service providers and users, the functioning and oversight of payment institutions, e-money institutions, and payment systems, as well as cross-border payment transactions.