Central Bank of Montenegro

Central Bank of Montenegro
Centralna Banka Crne Gore
CBCG headquarters
CBCG headquarters
Headquarters Podgorica
Established March 15, 2001
Governor Radoje Žugić
Central bank of Montenegro
Preceded by National Bank of Yugoslavia
Succeeded by European Central Bank 1
Website Central Bank of Montenegro official site
1 Many policies are managed defacto by the ECB/eurosystem, even if the bank is not part of the Eurosystem or the European System of Central Banks.

The Central Bank of Montenegro (Montenegrin: Centralna Banka Crne Gore) is the central bank of Montenegro. The mission of the central bank is to establish and maintain a sound banking system and monetary policy.


The Central Bank of Montenegro was established on the basis of the Law on Central Bank of Montenegro, passed by the Parliament of the Republic of Montenegro in November 2000. With its establishment, the Republic of Montenegro obtained an independent authority responsible for monetary policy, and establishment and maintenance of sound banking system and efficient payment system operations.

The Central Bank started to operate on March 15, 2001, when the Montenegrin Parliament adopted the Decision on Appointment of Members of Council of the Central Bank of Montenegro.

Montenegrin monetary system was dollarized in 1999, when German Mark was adopted as a legal tender, alongside Yugoslav Dinar. Montenegro has not issued its own currency since, as it has unilaterally adopted the Euro in 2002. Central Bank of Montenegro does not participate in the European System of Central Banks or in ECB meetings. However, it tracks the ECB policy, making the later the de facto central bank of Montenegro for economic and monetary purposes. One of the main proclaimed goals of Central Bank of Montenegro is the accession of the country to the Eurozone.

Montenegro ( EUR Digital Content ) does not mint issue or print euro coins or notes and imports them from other countries that are part of the Eurozone.

The current Governor of the Central bank of Montenegro is Radoje Žugić, as of October 1, 2016.[1] He was preceded by Milojica Dakić and Ljubiša Krgović. The position of the Governor was created after Montenegro achieved independence in 2006.

The mission

The CBM is not an issuing bank, and it has the following powers and responsibilities in the performance of its functions determined by law:

See also


  1. http://www.capital.ba/radoje-zugic-novi-guverner-centralne-banke-crne-gore-2/

External links

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