payment transactions

Foreign-owned banks likely to halt NIS payments, warns economist

No foreign-owned bank in Serbia is expected to allow a blockade of payment transactions and will likely unilaterally stop cooperation with the Naftna Industrija Srbije (NIS), according to economist Đorđe Đukić. He warned that Serbia is now facing a fait accompli, and earlier inaction has created a serious risk to the financial system. Đukić, a professor at the University of Belgrade Faculty of Economics, told Bloomberg Adria that foreign banks will not risk being involved in a payment freeze, and…