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Meeting with the representatives of the IMF and external advisors held

The Association of Montenegrin Banks held today meeting with the representatives of the International Monetary Fund (IMF) and external advisors that visited Montenegro providing technical mission in period from 21 January to 21 January 2019.

The delegation consisted of:

  • Vassili Bazinas, an MCM economist,
  • William Northfield, an advisor,
  • Samer Saab, an advisor.

With a view to providing technical assistance in the development of treasury bills’ market, the IMF representatives discussed with the Association, inter alia, on the banking system and the requirements for the development of capital market by introducing new products, the role of investment banking in the capital market development, repo operations, money market development cross-selling through the cooperation of the banking system and insurance companies by placing their products in the market, recent experience and future expectations. The harmonisation of the banking regulation was also discussed, and it was stated that the implementation should be gradual proportionate to the size of the market and financial infrastructure in order to prepare the banks for new challenges and for the reduction of operating costs.