An increasing number of Moldovans avoid the national banks and prefer to keep the savings in banks outside the country because they do not trust the national banking system, said experts invited to the talk show “Place for dialog” on Radio Moldova station, IPN reports.

“The banks should react. More Moldovans prefer to deposit the money in banks abroad. Others prefer to keep the savings in safe deposit boxes, while others at home. Emphasis is laid on keeping the money, not on gaining interest on it by depositing it at banks. Our banking sector is not attractive. It happens the same as with the vignette,” said expert Dumitru Budeanschi.

Economic expert Viorel Garbu noted such a situation is due to the defective management of the banks in Moldova. “The problem resides in bank management. Obliging the banks to have guarantee funds will not help solve the problem because the damage will be of billions of lei if a bank goes bankrupt. No bank can have such guarantee funds,” he stated.