Legal and Regulatory Obstacles for Scaling Up Microfinance in Serbia

 2004 Fellowship 

Interim Activity Report

Interim Research Paper

Interim Policy Brief

Final Activity Report

Final Draft Research Paper

Final Draft Policy Brief

About Me 

Arminio Rosic
E-mail:rosic@policy.hu 

In order to scale up, the Serbian legislator should not bother with unlicensed NGOs or unlicensed commercial company lending. Instead, the legislator should concentrate on removing legal and regulatory obstacles which impede scaling-up the microfinance industry through the formal financial sector. These obstacles relate to collateral pledging, compulsory reserves with the National Bank, foreign exchange positions, high costs of court registration taxes and similar. Also, the Central Register of pledges as well as Credit Dossiers for companies, entrepreneurs and individuals should be introduced. The addressing parties to these issues are the National Bank of Serbia and the Ministry of Finance as well as other competent state authorities which are in charge of the commercial law reform.

Note: The final version of the Research Paper and Policy Brief will be uploaded following the completion of the research at the Woodrow Wilson International Center, begining of 2006.