The Bankers’ League of Moldova, which is a public association, called on the National Bank of Moldova to use all the legal instruments available and ensure stability and safety in the banking sector by taking appropriate actions. The League analyzed the latest developments in the banking sector and urged banks’ shareholders to show maturity and managerial culture for building a credible and favorable environment for developing the country’s banking sector, IPN reports, quoting a statement of the association.

“The institution of special administration at Banca de Economii, Banca Sociala and Unibank by the National Bank in November – December 2014 and the provision of emergency loans for maintaining liquidity at these bans caused major problems to the state budget, affected the image and reputation of the banking sector, jeopardized the relations with the international financial organizations and the external development partners,” says the statement.

The members of the Association consider that in the absence of efficient communication on the issue between the National Bank and the public arouses confusion and speculations. Moreover, on June 11 the Administration Board of the National Bank instituted special supervision at Moldova-Agroindbank, Moldindconbank and Victoriabank in a move to attentively monitor these banks’ activity.

The statement also says that the responsibility for ensuring bank ownership transparency is borne equally by the administration bodies of the banks and by the market regulator – the National Bank. It is important to make concerted effort to motivate the shareholders to be transparent and credible.