Central Bank of Montenegro advances EU banking regulatory alignment

The Central Bank of Montenegro (CBCG) has taken significant steps toward aligning its regulatory framework with European Union standards and European Banking Authority (EBA) guidelines. During a recent Council session chaired by Governor Irena Radović, the bank adopted a package of bylaws aimed at enhancing prudential operations, corporate governance, remuneration policies, and the assessment of management members. These changes are intended to prepare the CBCG for future membership in the European System of Central Banks (ESCB).

Additionally, the Council updated regulations regarding the credit register to improve its functionality and data accessibility. In a separate meeting, Governor Radović met with the newly appointed German Ambassador to Montenegro, Edgar Alfred Gansen, to discuss economic opportunities and the ongoing European integration process. The discussions emphasized continued cooperation with the Deutsche Bundesbank to strengthen institutional capacities and support the transformation of Montenegro’s financial sector.