July 19 (SeeNews) - Montenegro's finance ministry has started a procedure that would allow for direct payment transactions between Montenegro and Serbia
in a bid to facilitate the business and reduce costs for citizens and the economy, finance minister Aleksandar Damjanovic said.
"I expect the proposals for the establishment of direct payment transactions between Montenegro and Serbia to be considered soon," Damjanovic said on Friday, as quoted on the website of the Montenegrin government. "We will see whether it will be done through the so-called clearing system which exists, or through the payment system in accordance with EU standards," he went on to say.
The two countries' central banks are discussing the issue and relevant draft legislation has been submitted to the Montenrgin government for debate, he added.