The summer has brought a set of amendments to the existing laws, as well as the adoption of new laws in Serbia’s financial sector. This overview focusses on the changes made to the Law on Payment Services (the “PS Law”), while additionally the Law on the National Bank of Serbia (“NBS”) has also been slightly amended, and two new important laws have been enacted: the Law on Consumer Protection in the Distance Selling of Financial Services and the Law on Interchange Fees and Special Rules for Payment Card Transactions (“IF&PCT Law”).

The amendments to the PS Law entered into force on 16 June 2018, but they will be applicable as of 17 March 2019, save for the provisions that will apply from the date of Serbia’s accession to the EU. The NBS should enact the relevant bylaws for the implementation of the changes until 17 December 2018.