RMB Group, a privately-held multibillion company from the United Arab Emirates, withdrew its intention to invest in the Republic of Moldova for an indefinite period of time. According to a press release, the decision was taken following “demotivating decisions” taken by law enforcement agencies with regard to the company and its partner in Chisinau. Together with such a decision, the Republic of Moldova loses an initial investment of about €7 million, IPN reports.
RMB Group, which is represented in Chisinau by its subsidiary ”Global Real Estate Engineering Development MOL” SRL, planned to buy 50% of the Moldovan company that owns the building located at 182 Ștefan cel Mare și Sfânt Blvd. RMB Group intended to develop a green energy real estate project at that address. To finish the transaction, RMB Group transferred a total sum of €7,106,524.56 to the account of its subsidiary.
In accordance with the Moldovan laws, particular transactions are checked by the responsible bodies within 30 days. Such a check was ordered this April in the case of RMB too, but the law enforcement agencies haven’t unblocked the sum so far.
The company considers the National Anticorruption Center’s actions are unjustified as it was audited by important Moldova financial institutions three years ago. Besides, the company was the subject of a thorough analysis carried out by one of the most important international consulting firms - PWC. RMB Group noted that it has extended banking relations with DB Bank, City Bank, HSBC and with the IFC (World Bank) and this fact confirms its transparency and bona fide quality.
The company warns that its jurists will struggle to have the money unblocked and to hold all those who will be identified by law as responsible for the sabotaging of the investment legally and financially accountable.
RMB Group was founded in 2000 by the President and only owner Rashed AlBlooshi. In 2021, it had a portfolio of about €5 billion.
