Serbia's election winners urge banks to monitor money leaving the country
Serbia's Student List, winner of the early parliamentary election, has urged banks to tighten control over capital outflows during the transition to a new government. The call followed the central bank's revocation of Alta Bank AD's licence over suspicious withdrawals.
The Student List, the electoral bloc that won Serbia's early parliamentary election on 25 October, has called on banks to strengthen control over capital leaving the country. The appeal covers the transition period before a new government is formed. According to a statement from the list cited by Bloomberg, the issue matters because financial stability is at stake while power changes hands.
What the Student List is asking for
The statement says the transition period requires enhanced oversight and control of cross-border financial transactions and of potential capital outflows from Serbia. The election winners stressed that the call is not meant to restrict "legitimate business activity". They said it aims to preserve financial integrity, accountability and transparency during the transition.
Background
The appeal came shortly after Serbia's central bank revoked the licence of Alta Bank AD. The reason was suspicious outflows of funds from the bank in the days following the 25 October vote.
In the early parliamentary election, the Student List received almost 53% of the votes. On the evening of 25 October, former Serbian president Aleksandar Vucic, who led the Serbian Unity electoral list, conceded defeat.
