Memorandum on bank and insurance company supervision signed with China

The Governor of the National Bank of Serbia , Jorgovanka Tabakovic, and the president of the China Banking and Insurance Regulatory Commission (CBIRC), Guo Shuqing, signed the Memorandum of Understanding between the two institutions in Beijing today.

The memorandum is expected to stimulate the cooperation of the financial sectors of China and Serbia and the exchange of ideas and experiences, especially in the field of banking and insurance.

– The support China gives to our country in the process of economic reforms and through investments in important projects, thereby helping Serbia achieve economic growth, is especially important to us – the governor said and emphasized that the NBS also gave full contribution to intensifying the economic cooperation with China.

– In December 2014, we reached the decision to put the Chinese yuan on the list of currencies that can be traded in the foreign exchange market. In 2016, we made a bilateral swap arrangement with the central bank of China, whereas, in November 2017, we signed the Memorandum of Understanding with China UnionPay – she reminded

The CBIRC is a regulatory body in charge of bank and insurance supervision, established through a merger of two previously separate regulatory authorities.

The Memorandum of Understanding pertains to the mutual cooperation between the two regulators through the exchange of data and information in the field of supervision of banks and insurance companies, to the end of mutual maintenance of the efficiency of the banking systems of the two states.

Narodna banka Srbije Beograd

National Bank of Serbia

NBS

China Banking and Insurance Regulatory Commission

CBIRC

Jorgovanka Tabakovic

Guo Shuqing

Beijing

Memorandum of Understanding with China UnionPay

China UnionPay