Banks and other financial service providers will not be able to change interest rates unilaterally, and this will apply to all loans and other financial services regardless of the when they were contracted, if the bill on the protection of users of financial services is passed, National Bank of Serbia (NBS) Governor Dejan Soskic said Wednesday.

Presenting the bill to the parliament, Soskic said that the NBS sponsored the bill with a view to protecting the users of banking services, financial leasing and financial deals, by obligating the providers of these services to treat clients in a fair and transparent manner and provide accurate information.

"Even though the NBS's activities on client protection have been yielding good results, we estimated that a special law should define the mandatory elements of a contract, as well as the rights and obligations of both financial institutions and clients," Soskic said and added that client rights were particularly jeopardized during the economic crisis.