Serbia financial leaders discuss capital market innovation and regulation

The Fourth Financial Services Conference, themed ‘Innovation Meets Regulation’, was held in Belgrade to discuss the intersection of new technologies and financial market stability. The event brought together regulators and business leaders, including representatives from the National Bank of Serbia, the Ministry of Finance, the EBRD, and the Foreign Investors Council (FIC).

Marko Janković, President of the Securities Commission of Serbia, noted that developing the domestic capital market requires moving beyond traditional bank financing. He highlighted that many Serbian companies rely on bank loans due to their speed and lower transparency requirements. Transitioning to the capital market requires companies to adopt higher standards of corporate governance, continuous reporting, and transparency, which some owners perceive as a loss of control.

Grzegorz Zielinski, EBRD Managing Director for South-Eastern Europe, emphasized that Serbia possesses a strong financial sector and an increasing ability to attract international investors. He stated that progress occurs when innovation and regulation work in tandem to provide the certainty needed for investment to flourish.