LAW ON FOREIGN CURRENCY TRANSACTIONS (“Official ... - Siepa

International payment transactions shall be performed in foreign currency and dinars through thebank.Residents referred to in Article 36 of the present Law shall perform international paymenttransactions through the National Bank of Serbia.Bank may carry out payment transactions under foreign credit facility operations, only if thoseoperations have been previously filed at the National Bank of Serbia in accordance with this law.Bank may perform payments under short term fixed-term bank deposits, exports and imports ofgoods and services which, under this law are considered to be foreign credit facility transactionsand other transactions that have features of a foreign credit facility transaction from the Article18 Paragraph 11 of this law, as well as under loans that a bank approves to non-residents indinars and without previous filing of such activities at the National Bank of Serbia.The National Bank of Serbia shall prescribe more detail conditions and manner of performinginternational payment transactions with regard to current and capital transactions.Article 33Resident may also effect the collection and/or payment in respect of non-resident other than theone with regard to whom the resident has any debt or claims, under current or capitaltransactions, provided that such transaction is allowed by the present Law.Resident - debtor under dinars credit facility taken from the international financial organizationand development bank or financial institution founded by foreign states may also make thepayment to another international financial organization and development bank or financialinstitution founded by foreign states, and not to the one to which is indebted under thattransaction.Transactions referred to in Par. 1 and 2 of the present Article shall be performed solely on thebasis of contract concluded in writing, between all participants in the transaction.Banks shall be obliged to inform on transactions from Par. 1 and 2 on this Article the NationalBank of Serbia in the manner and within deadlines that it prescribes.The government prescribes to residents the conditions, methods of performing and reporting tothe Foreign Currency Inspectorate on the transactions under Par. 1 and 2 of this Article.Residents are required to file the changes under the foreign credit facility transactionsdetermined in Para. 1 and 2 of this Article at the National Bank of Serbia in accordance with theregulation issued pursuant to Article 24 of this law.Article 34Payment, collection and transfer between residents and between residents and nonresidents inthe Republic are made in dinars.