The Parliament of Moldova has approved new edition of the law on Saving-Debt Associations in the first reading
The document is called to help with development of saving-debt associations in connection with increase in savings, diverse rendered services, greater independence of the involved means. Also the bill raises requirements to qualification of the personnel of associations. New edition of the law is necessary for the decision of following problems: the big number of small saving-debt associations; their weak government; absence of the organizations supporting development of associations; the limited opportunities of supervision above them. The document provides strengthening supervision above activity of saving-debt associations, creation of the central associations which will provide the financial and other services to associations. Besides this the classification of associations depending on a spectrum of given services and territorial scope is provided. According to the Ministry of Finance, till now in Moldova it has been created more than 550 saving-debt associations in the rural area where there are more than 100 thousand members. The total cost of actives of all associations exceeds 451 million lei. Associations have been created to assist enterprise and other lawful activity of its members by attraction of external financial assets because of their absence in the rural area.