At the extraordinary session of its Executive Board, held on March 17, the National Bank of Serbia decided to introduce a moratorium on the repayment of loans in an effort to maintain the stability of the country’s financial system and minimize the potential risks caused by the current health situation in the country.
The moratorium pertains to all loan users (natural persons, farmers, small business owners and companies), should they choose so, and it entails the recess in repayment of credit liabilities, which cannot be shorter than 90 days, i.e. the duration of the state of emergency implemented due to the pandemic.
In the said period, the debtor will not be obliged to pay the credit or leasing liabilities. Of course, the debtors are not prevented from settling their obligations regularly, even after the implementation of these measures.
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“Financial stability is necessary in regular and especially in the extraordinary circumstances in the country. The National Bank of Serbia, in coordination with other state bodies, is implementing and will implement all the required measures toward protecting the stability and making the position of the citizens and the economy of the Republic of Serbia easier in the extraordinary circumstances. The awareness of the necessity of responsible conduct of all the market participants is invaluable in these sensitive times,” said the governor of the NBS, Jorgovanka Tabakovic.
For the duration of these new measures, default interests on due but unsettled claims will not be calculated, enforced payment procedures will not be initiated and other legal actions regarding the collection of debt from clients will not be taken. Furthermore, banks or leasing companies will not be able to charge fees for any expenses related to the implementation of the new measures.
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