FinTech Guide Chapter 7 Serbia
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.
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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
15. Initial Coin Offerings (ICOs)
Publication Date: 1 August 2019