NBS to form a database of money remittances from the diaspora

The National Bank of Serbia (NBS) has decided to create a money remittance database, which will be activated as of 15 June and will register anyone sending or receiving money from abroad. Last year, over 2.5 billion euro of remittances arrived in Serbia.

Banks and other financial institutions must submit a list of their clients sending or receiving money from abroad to the National Bank of Serbia by 15 June. The names of anyone sending money from Serbia and anyone receiving money will be listed in a unique register of remittance users. The objective, according to the NBS, is to prevent financial abuse.

By 15 April, the banks should prepare the technical conditions for the establishment of the register.

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The database, which will be updated by the NBS and which data will not be publicly available, will mainly include the information about persons from the Serbian diaspora who send money earned abroad to their families in Serbia.

In Serbia, it is possible to receive and send money through individual payment institutions, without opening an account. This international payment service is provided by banks, as well as by Serbian post office, Western Union, MoneyGram International Inc. and RIA Money Transfer.

According to the relevant regulation, citizens can transfer up to 10,000 euro per month without restrictions. They are allowed to send money from abroad which is considered a gift, assistance to a family member, inheritance or rent, and to settle the debt of Serbian citizens planning to move abroad from Serbia.

(Vecernje Novosti, 26.02.2020)

https://www.novosti.rs/vesti/naslovna/ekonomija/aktuelno.239.html:849352-Mora-da-se-zna-ko-salje-i-ko-prima-devize-NBS-formira-bazu-podataka-o-doznakama

 

This post is also available in: Italiano

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