National Bank of Serbia (Central Bank of Serbia)
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National Bank of Serbia is the Central Bank of the Republic of Serbia. The bank is headquartered in Belgrade. The law on the National Bank of Serbia specifies that in the pursuance of its responsibilities the National Bank of Serbia acts as an autonomous and independent institution.
National Bank of Serbia is the Central Bank of the Republic of Serbia. The bank is headquartered in Belgrade. The law on the National Bank of Serbia specifies that in the pursuance of its responsibilities the National Bank of Serbia acts as an autonomous and independent institution.
As such the bank is not obliged to take directions from the government or other institutions. The main objective of the bank is to maintain price stability and ensure financial stability in the country. In the pursuance of its objectives the most significant responsibilities entrusted upon the Bank of Serbia are:
- Formulating and implementing the monetary policy
- Maintaining the exchange rate of the currency
- Holding and managing the foreign exchange reserves of the country
- Issuing the banknotes and coins and controlling their circulation in the country
- Maintaining efficient payment and financial system in the country
The managing power of the national bank of Serbia is in the hands of the Monetary Board, Governor, and the Council. The Monetary Board, which is responsible for formulating the monetary policy, consists of the Governor and the Vice-Governors.
The Governor is appointed by the parliament and his tenure is for five years. The Governor is responsible for implementing the decision reached at by the Monetary Council. The three Vice-Governors are appointed by the Council on the Governor’s recommendation for a period of five years.
The National Bank of Serbia works with the vision of building a modern and well-organized financial system in the country. Initiating reforms in the financial sector is one of the prerogatives and a key element in the economic strategy of the National Bank of Serbia.
The Address and Contact details of the bank is as follows:
National Bank of Serbia
Address: Phone No.: Fax:
