The idea of founding the Central Bank of Montenegro (hereinafter: CBCG) emerged at the beginning of 20th century. To wit, Crnogorska banka (Montenegrin Bank) was founded on Cetinje in 1905 with the idea to become a central bank that would assist the development and functioning of the banking industry in Montenegro. It was organised as a joint stock company with the objective to accept capital for capital turnover, to support the development of manufacturing, handicraft, trade and industry by granting loans. However, based on the decree of Prince Nikola of 11 April 1906, instead of Crnogorska banka the Ministry of Finance was authorised to mint nickel and bronze coins in the amount of 200.000 korona. Therefore, 11 April is nowadays celebrated as a CBCG Day, while Montenegro still had to wait for long time to have its central bank.