The process of liquidating the banks whose licenses were withdrawn by the National Bank of Moldova was extended from three to five years, with the possibility of prolonging it for two more years. For the purpose, Parliament adopted a legislative initiative to amend and supplement the Law on Financial Institutions and the Law on the State Registration of Legal Entities and Individual Entrepreneurs, IPN reports.

According to the informative note to the bill, the liquidators of the banks meet with difficulties in this process in connection with the prolonged examination of disputes in court.

In February 2016, there were 11 banks under liquidation: BCA “Bancosind”, “BIID MB” SA, BC “Basarabia”, Bank “Guinea” SA, BCA “Intreprinzbanca”, BCI “Oguzbank” SA, BC “Investprivatbank” SA, Banca de Economii, Banca Sociala, Unibank, and Universalbank.

According to the data presented by liquidators, the banks under liquidation have significant debts to legal entities, private individuals, state institutions and other banks. Last December, the deposits of private individuals totaled over 585 million lei, while of legal entities – more than 800 million lei.

The bill provides that the prolongation of the liquidation term will enable the liquidators to finish all the court proceedings to collect the debts and sell the assets at reasonable prices so as to clear the debts to depositors.