The major problems faced by the banking system of Moldova derive from the lack of transparency in the management of commercial banks, president of the Bankers League of Moldova Dumitru Ursu said in the program “Public eye” on Noroc TV channel, IPN reports.
According to Ursu, the problem of anonymity of bank owners has persisted in Moldova since the 1990s, while the National Bank, which possesses instruments for solving this problem, avoids doing this. “Probably some of the bank owners want to preserve anonymity because they appropriated shares in banks, while others became co-founders with capital borrowed from other banks, which is not allowed by the Moldovan legislation,” stated Dumitru Ursu.
He noted that owing to the lack of transparency in bank management, the Moldovan banking system does not enjoy foreign financing. “This year our banks do not have access to cheap foreign loans and are put in the situation to provide costly loans from clients’ deposits. This fact seriously affects the country’s economy,” he said.
The president of the Bankers League pleaded also for ensuring transparency in bank transactions so as to diminish the phenomenon of money laundering in the banking system.
As to the possible merger of Unibank and Banca de Economii, Dumitru Ursu said the Government must thoroughly analyze such a move. The state has controlling interest in Banca de Economii and can any time block this deal. If such a deal is accepted, the Government will have to provide solid evidence.
As regards Victoriabank, which is said to have become the target of a raider attack, Ursu stated that it is a matter concerning conflicts of interest and misunderstandings between the bank’s shareholders. “The tenure of some of the members of the bank’s executive expires and it is rumored that the work contracts with them will not be extended,” he explained.
Dumitru Ursu said the Moldovan baking system is stable and the liquidity of the banks is enormous, but the loans become rather inaccessible especially after the banks took precautionary measures following the crisis of 2008.
The public association Bankers League of Moldova was founded on March 12, 2013 by the decision of the General Assembly of the founding members. Its mission is to promote and strengthen the role of the baking industry in the national economy and to safeguard the image and professional dignity of bankers in society.
