Banking in Serbia

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Banking in Serbia is regulated by the central bank in Serbia, the National Bank of Serbia. The mandate of the National Bank of Serbia is to contribute, without prejudice to its primary objective, to the maintenance and strengthening of the stability of the financial system and Economy of Serbia. To determine and implement measures and activities to that effect.^[1] Out of the total of 29 commercial banks, providing a wide array of banking services, 21 are in majority foreign ownership. Banks in Serbia are independent in their pursuit of profit-oriented business activities based on the principles of solvency, profitability, and liquidity. Every-day payment transactions are with a few exceptions, made in Serbian dinars, and one can use various types of credit cards (Visa, MasterCard, Diners, American Express). All major foreign currencies can be freely purchased and sold in exchange offices throughout the country. Many banks have automated teller machines, so, currency can be withdrawn at any time.^[2] Foreigners in Serbia, similar to the other countries, cannot get full service as in their home countries. While many banks have high ATM withdraw fees, few banks have lower fees.^[3]