The Slovenia Times

Violations of the Law in Slovene Banking



Slovene banks have the right to arbitrarily change the interest rates of current valid savings contracts. The Bank of Slovenia has responded with a directive concerning contracts and the law, to all the banks. The Central Bank argues that the only effective answer to this problem is to adopt fixed interest rates. The Banks response is that inflation is still relatively high and that their clients are acquainted with the terms of their contracts. However, the banks are promising to reform and adjust their contracts according to directions from the Central Bank. The response of the Bank Association The Bank Association of Slovenia has responded with an adjustment procedure. They have formed a special system (Assembly for Arrangements) to resolve possible disputes between banks and commissioners.


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