Tabakovic: Serbia should be admitted to SEPA by May 22

On May 22, Serbia should finally be admitted to the Singel Euro Payments Area (SEPA), stated the governor of the National Bank of Serbia (NBS), Jorgovanka Tabakovic.

– Serbia has not yet joined the Single Euro Payments Area, even though it’s better than others, but the rules had been changed before Serbia’s accession – Tabakovic said at the presentation of the NBS Inflation Report.

She emphasized that there were no additional criteria that Serbia needed to fulfill to join SEPA, the aim of which is to achieve cheap payments in euros, as is the case with dinars in the country.

Tabakovic said that Serbia had met the conditions and adopted the adequate laws, that the European Commission had no complaints and that, at the session of the European Payments Council on May 22, the country was expected to become a SEPA member.

SEPA is a pan-European initiative, launched in 2008, which simplifies, accelerates and harmonizes electronic payments, with the biggest possible reduction in costs.

In order for a country to join the SEPA, it has to, legally and technically, harmonize with the regulations of the European Union in the field of payment systems, and an important role in that process is also played by the national banks, which, on behalf of their states, submit applications for joining SEPA.

Narodna banka Srbije Beograd

National Bank of Serbia

NBS

Single Euro Payments Area

SEPA

Jorgovanka Tabaković