Canada    FinTech Guide    Chapter 7    Serbia

7. Loan Services / Factoring / Loan Broking / Finetrading
Serbia  Serbia

Legal Affairs

Mentioned models are not feasible under the Serbian law due to the general provision from the Law on Banks („Official Gazette of the Republic of Serbia“, nos. 107/2005, 91/2010 and 14/2015) that only an entity duly organized and licensed as a bank may provide credits/loans in Serbia.

Besides banks, there is a possibility under the PS Law for a payment institution/e-money institution to grant a loan to a payment service user in connection with the payment services it regularly provides, but only if the following conditions are met: (i) a loan has been granted exclusively for the execution of a payment transaction; (ii) the loan repayment period does not exceed 12 months; (iii) a loan has not been granted from the funds of payment service users received by a payment institution for the execution of payment transactions of these users; (iv) own funds of a payment institution are at all times appropriate to the total amount of the loans granted. That type of loans also relate to an authorised overdraft facility and credit cards issuance.

Economic Conditions

No data available.

Contributing Authors

Karanovic & Nikolic

Marko Ketler
Belgrade, Serbia

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Chapter Index:

1. Payment Services / Mobile Payment

2. Asset and Portfolio Management

3. Consulting and Broking Services / Robo-advisory / Auto-trading

4. Trading Platforms / Social Trading Platforms / Signal Following

5. Crowdfunding / Crowdinvesting / Crowdlending

6. Virtual Currency - Bitcoin

7. Loan Services / Factoring / Loan Broking / Finetrading

8. Online Banking Services

9. Analytics and Research / Data Management / Risk Management

10. Accounting

11. Identification

12. Online-pawning

13. InsurTech

14. RegTech

15. Initial Coin Offerings (ICOs)

The information in this guide provides a general overview at the time of publication and is not intended to be a comprehensive review of all legal developments nor should it be taken as opinion or legal advice on the matters covered. It is for general information purposes only and readers should take legal advice from a Multilaw member firm.

Publication Date: 1 August 2019