The National Bank of Moldova (BNM) will have more instruments for monitoring the shareholders of commercial banks, economic expert Adrian Lupusor, of the Independent Analytical Center “Expert-Grup”, said in an interview. The comments were made following amendments made to the Law on Financial Institutions, the Law on the Central Bank, the Civil Code, and other pieces of legislation.

“The new regulations are welcome following the taking over of important shareholdings by doubtful shareholders, about which they have spoken a lot,” stated Adrian Lupusor.

Under the new regulations, the purchase of shareholdings of over 5% of the banks’ capital and the rise in shareholdings up to 20%, 33% or 50% can be made only with the permission of the BNM, after the solidity of the potential shareholders is assessed according to strict criteria. Those who will acquire holdings in the banks’ registered capital without the central bank’s permission will be deprived of the rights deriving from holding these shares.

The amendments ban the persons who do not implement the international transparency standards from holding shares in the banks’ registered capital. These shares are to be sold during a year.

The adoption of the relevant changes was one of the conditions of the program with the IMF.