# Serbia’s Central Bank Governor Calls for Human Accountability in Regulation

By Riza Dagoc

Canonical URL: https://www.tokenpost.com/news/regulation/27894
Published: 2026-10-08T09:34:44.000Z
Updated: 2026-10-08T09:34:44.000Z
Section: Regulation

> Jorgovanka Tabaković urged regulators to use new technologies while keeping people responsible for financial oversight at a Sept. 30 conference in Belgrade.

Jorgovanka Tabaković, governor of the National Bank of Serbia, urged regulators to adopt new technologies while retaining human responsibility for financial oversight at a financial-services conference in Belgrade on Sept. 30.

“As regulators, it is our responsibility to safeguard what no technology can take over from us – responsibility for the work we do and responsibility towards the people for whom we do it,” Tabaković said.

The fourth conference, organized by the Foreign Investors Council (FIC) and the European Bank for Reconstruction and Development (EBRD), brought together representatives of Serbia’s central bank, the Ministry of Finance, the EBRD and FIC member companies. Discussions covered changing business models, financial-market development and how regulation can keep pace with innovation while protecting financial stability.

Tabaković described artificial intelligence as a set of mathematical models and algorithms rather than a substitute for human consciousness, creativity or accountability.

“What do exist are mathematical models and algorithms,” she said, adding that regulators should use the technology’s advantages while keeping responsibility for regulatory decisions with people.

The measures cited as examples of financial-sector modernization included cloud-based qualified electronic signatures, online fiscalization, electronic invoicing, registered electronic identification and expanded instant payments through Serbia’s national IPS system and QR codes.

FIC Vice President Goran Pekez said businesses are seeking rules that are easier to understand and apply.

“The business community is not asking for less regulation, but for better regulation – clear, predictable, coherent and applicable in a real business environment,” Pekez said.

Grzegorz Zielinski, EBRD managing director for South-Eastern Europe, said coordination between innovation and regulation can support investment.

“Our experience shows that progress happens when innovation and regulation work together: innovation creates opportunities, while effective regulation provides the certainty and confidence needed for investment to flourish,” Zielinski said.

FIC has about 120 member companies. Their investments in Serbia total about €49 billion, and they directly employ more than 117,000 people. About 75% of FIC member companies are from the European Union.