On March 17, 2020, the National Bank of Serbia issued a Decision on interim measures to safeguard the stability of the financial system, allowing clients (individuals, farmers, entrepreneurs and companies) to suspend the repayment of credit liabilities (moratorium) due to the COVID-19 pandemic. Payment can be deferred for a period of at least 90 days or for the duration of the state of emergency. In addition to this, clients may be offered other relief regarding the repayment of their obligations.

During the state of emergency, banks will not charge interest on due but unsettled claims and will not initiate enforced payment procedures or any legal actions regarding the collection of debt from their clients.

The National Bank of Serbia has adopted these interim measures to preserve the stability of the financial system and the level reached in the face of potential risks caused by the state of emergency in the country.

For more information on this topic, or impact of this pandemic on business, contact our team at aleksicsasaradnicima@lawofficealeksic.rs.