interest rates cap

Serbia proposes new financial regulations to protect consumers and stabilize loan rates

Jorgovanka Tabaković, the Governor of the National Bank of Serbia (NBS), announced that the Draft Law on the Protection of Users of Financial Services includes interest rate caps on various types of loans, including home loans, consumer loans, credit cards and overdrafts. This legislation is designed to prevent excessive interest rates, protect consumers, and slow down interest rate increases during periods of economic instability, such as the sharp rise in rates seen in 2022 and 2023. Key proposals include limiting…