The Macedonian Central Bank (NBRM) adopted new regulations that will allow for more dynamic movements at the financial services market.

This will allow smaller banks and operators with electronic currency to begin to give payment services – an area that was given exclusively to banks until now

The new competitive environment will motivate the existing and the future service providers to offer innovative solutions to their clients, NBRM said in a statement.

Citizens and businesses will be able to open accounts with new providers – but without the right to make deposits or expect interest. NBRM will prepare a list of 11 services and providers will be required to inform their new clients about these services.