The state-run or municipal companies and enterprises with absolute or majority public capital will be no longer able to purchase financial services from financial-banking institutions whose prudence indicators do not meet the norms laid down by the National Bank of Moldova. Relevant regulations were approved by the Government, IPN reports.

“If a bank does not meet the legal norms set by the central bank, but provides financial services, it endangers not only its activity, but also the activity of the economic entity, which can become unable to pay at a certain moment. The goal of the regulations is to protect the financial resources of state-run or municipal companies and commercial organizations with absolute or majority public capital,” said Minister of Finance Anatol Arapu.

Deputy Prime Minister and Minister of Economy Valeriu Lazar stated that these regulations cannot be imposed on the commercial organizations with absolute or majority state capital as they have private shareholders too. In this case, the regulations should be promoted through the agency of the state representatives in these companies.

Under the regulations, the contracts with the providers of financial services will be signed for a period of at most two years.