Saturday, April 20, 2013

UAE interested in founding bank in Serbia

BELGRADE - The United Arab Emirates (UAE) is interested in founding a bank in Serbia and several meetings have already taken place, National Bank of Serbia (NBS) Governor Jorgovanka Tabakovic has said.

The NBS still has not received an official request for preliminary approval i.e. a working permit, she said. 

 There is still room in Serbia for bank consolidations, but so far there have been no official requests of initiatives from banks or other interested parties which would indicate this will happen in the near future, said Tabakovic. Speaking about Serbia's arrangement with the International Monetary Fund (IMF), she said Serbia would benefit from a precautionary agreement because it would offer additional guarantees to foreign investors that the country is implementing a responsible and sustainable macroeconomic policy. 

"Serbia does not need to take out new loans from the IMF, because the current level of foreign exchange reserves of EUR 11.8 billion is more than sufficient," said Tabakovic. Photo Tanjug, Filip Kraincanic (archive photo)

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