NBS intends to protect those paying online, by email... - This is what draft law on better protection of consumers in respect of distance contracts bring

The National Bank of Serbia (NBS) has produced a Draft Law on the Protection of Financial Services Consumers in Respect of Distance Contracts (Draft) aiming to enhance the protection of financial services consumers in Serbia in respect of the provision of those services via the internet, through e-mail communication, by post or other means of distance communication.

- As the use of modern technologies in financial services is an important factor affecting further development of the financial market and given that the use of such technologies requires the adoption of supplementary regulations to ensure that financial services consumers are well informed and protected, passing regulations in this area is of particular importance to both consumers and financial institutions - the NBS said in a release on its website.

The Draft covers the services in the area of banking, insurance, voluntary pension funds, payment transactions, e-money issuance, financial deals and investment.

The NBS also invited the public, experts and other stakeholders to participate in the public debate and submit their suggestions and remarks to the Draft by 21 December 2015 to e-mail kabinet@nbs.rs.

For integral version of the Draft Law on the Protection of Financial Services Consumers in Respect of Distance Contracts: