Russian bank to offer credits to Moldovans working abroad

The Russian bank “Russlavbank” announced that it offers credits to migrant workers, including those from Moldova, for paying the travel to their working places. Still, only the permanent costumers of the money transfer and payment system “Contact” would be able to benefit from these credits. The “Contact” system is operating on the Moldovan market, being used by Moldovans who are abroad in order to operate money transfers via the banking system. In the opinion of the Russlavbank’s director, Nicolai Gusman, this crediting programme will contribute to the legalisation of migrants on the territory of the Russian Federation. According to him, the credits will be offered by the Russlavbank’s partner-banks in CIS countries. Credit lines have been opened in these banks. Till present credit lines have been opened in the banks of 7 CIS countries, including Ukraine, Azerbaijan and Moldova. Gusman did not specify which are the partner-banks from Moldova, but mentioned that the size of the credit will alternate between USD 100 and 1000, having a term of up to half a year. Concerning the cost of the credits, Nicolai Gusman said that “interested persons from a concrete country will contract the credit with an interest rate which would correspond to the interest rate for consumption credits in this country. However, the partner-banks will decide independently upon the value of the interest rate”, he specified. “Contact” money transfer system has been founded by Russlavbank. It operates in 81 countries via 29,000 offices. The Transfers can be made in 3 currencies – EUR, USD and RUR.