{"id":407254,"date":"2014-12-24T19:37:25","date_gmt":"2014-12-24T17:37:25","guid":{"rendered":"http:\/\/www.moldova.org\/?p=407254"},"modified":"2014-12-24T19:37:25","modified_gmt":"2014-12-24T17:37:25","slug":"two-commercial-banks-are-suspected-of-prejudicing-the-national-bank-of-moldova","status":"publish","type":"post","link":"https:\/\/www.moldova.org\/en\/two-commercial-banks-are-suspected-of-prejudicing-the-national-bank-of-moldova\/","title":{"rendered":"Two commercial banks are suspected of prejudicing the National Bank of Moldova"},"content":{"rendered":"Reading Time: <\/span> 2<\/span> minutes<\/span><\/span>

The International Money Fund stated in a report that the banking system of Moldova is not supervised in a good way by the National Bank. There has been identified that the Banca Sociala and Banca de Economii banks, empowered by their administrative councils, managed badly the money by giving unreliable loans to physical persons and units of business.<\/p>\n

Thus, millions have been washed through credits given by the National Bank to these commercial banks. According to the monetary balance, Banca De Economii lost 100 billions US dollars of their value in the last 2 months of the private leadership.<\/p>\n

Furthermore, the private leadership, led by Ilan Shor, has reportedly done a raider attack in 2013 and in the beginning of 2014 in order to have the majority(>33%) in the bank’s council. Shor, a Moldovan banker with businesses in both Moldova and Russia, is known for owning Banca Sociala, the bank that is also messing with money and is prejudicing the state.<\/p>\n

Adrian Candu, the Minister of Economy, declared that the authorities are interested in an \u00a0international investigation of the situation of the banks whose management was urgently taken by the state Bank.<\/p>\n

”If there were admitted frauds at these two banks, who are now in the charge of the National Bank, there must be taken measures in order to punish the persons guilty of bad management.<\/p>\n

Now we are following three important things- to not let the clients suffer, to recover the money gone due to the frauds, to punish the guilty. Let the blood flow, if it is necessary and I am sure that will do”, mentioned Candu.<\/p>\n

After having several discussions with representatives from the International Monetary Fund, World Bank, the Minister said that the banking system is a priority in the future government’s program. Candu specified that there should be taken in consideration the transparency of banks’ leadership and the financial and technical capacities of each bank.<\/p>\n

The National Bank introduced a special administration at the Banca de Economii and Banca Sociala banks, on 28 and 30 of November, after the Supreme Court canceled the plan of increasing the social capital from August 2013, and the Banca de Economii became a state bank again.<\/p>\n

Now the special administration together with the National Bank is trying to investigate a series of suspect operations done during the second part of November 2014.<\/p>\n

Banca de Economii is a state bank, valued as the biggest bank in Moldova, even if its profit was under 1 million lei in 2013.<\/p>\n","protected":false},"excerpt":{"rendered":"

Reading Time: <\/span> 2<\/span> minutes<\/span><\/span>The International Money Fund stated in a report that the banking system of Moldova is not supervised in a good way by the National Bank. There has been identified that the Banca Sociala and Banca de Economii banks, empowered by their administrative councils, managed badly the money by giving unreliable loans to physical persons and […]<\/p>\n","protected":false},"author":6,"featured_media":266002,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-407254","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy"],"content_social_share":"Reading Time: <\/span> 2<\/span> minutes<\/span><\/span>

The International Money Fund stated in a report that the banking system of Moldova is not supervised in a good way by the National Bank. There has been identified that the Banca Sociala and Banca de Economii banks, empowered by their administrative councils, managed badly the money by giving unreliable loans to physical persons and units of business.<\/p>\n

Thus, millions have been washed through credits given by the National Bank to these commercial banks. According to the monetary balance, Banca De Economii lost 100 billions US dollars of their value in the last 2 months of the private leadership.<\/p>\n

Furthermore, the private leadership, led by Ilan Shor, has reportedly done a raider attack in 2013 and in the beginning of 2014 in order to have the majority(>33%) in the bank’s council. Shor, a Moldovan banker with businesses in both Moldova and Russia, is known for owning Banca Sociala, the bank that is also messing with money and is prejudicing the state.<\/p>\n

Adrian Candu, the Minister of Economy, declared that the authorities are interested in an \u00a0international investigation of the situation of the banks whose management was urgently taken by the state Bank.<\/p>\n

”If there were admitted frauds at these two banks, who are now in the charge of the National Bank, there must be taken measures in order to punish the persons guilty of bad management.<\/p>\n

Now we are following three important things- to not let the clients suffer, to recover the money gone due to the frauds, to punish the guilty. Let the blood flow, if it is necessary and I am sure that will do”, mentioned Candu.<\/p>\n

After having several discussions with representatives from the International Monetary Fund, World Bank, the Minister said that the banking system is a priority in the future government’s program. Candu specified that there should be taken in consideration the transparency of banks’ leadership and the financial and technical capacities of each bank.<\/p>\n

The National Bank introduced a special administration at the Banca de Economii and Banca Sociala banks, on 28 and 30 of November, after the Supreme Court canceled the plan of increasing the social capital from August 2013, and the Banca de Economii became a state bank again.<\/p>\n

Now the special administration together with the National Bank is trying to investigate a series of suspect operations done during the second part of November 2014.<\/p>\n

Banca de Economii is a state bank, valued as the biggest bank in Moldova, even if its profit was under 1 million lei in 2013.<\/p>\n

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