National Bank of Serbia launches draft consumer finance law changes covering credit intermediaries merchant finance and debt advice

The National Bank of Serbia has published draft amendments to the Law on the Protection of Users of Financial Services to complete alignment with European Union rules. The main changes would introduce a detailed regime for credit intermediaries, extend pre-contractual information duties to merchants that offer deferred payment or similar financing, and for the first time recognize and regulate debt advice services. Credit intermediation, which is currently not specifically regulated, would be covered through rules on the types of intermediation, which entities may provide the service, the conditions for doing so, and the licensing, supervision and fee framework. Merchants that grant customers deferred payment, loans or similar arrangements would become subject to the same pre-contractual information obligations. Merchants that finance customers from their own funds, other than deferred payment by cheque, would need to be licensed and would fall under National Bank of Serbia supervision. The proposal does not cover bank card instalment payments or linked consumer credit provided by banks, where merchants would generally act as credit intermediaries. Debt advice services would be allowed for licensed legal persons, including associations, and entrepreneurs, under National Bank of Serbia supervision, although application of those provisions would be postponed pending more detailed European Commission guidance. The draft also refines existing rules based on experience from implementing the current law. Comments on the draft are invited until 2 June 2026.