Commercial Banks of Moldova will Have to Increase Minimum Size of the Capital for Financial Activity up to 100 million leis.
This is stipulated by the amendments to the Law on Financial Institutions, approved by the government. As the President of NBM Leonid Talmaci noted, this requirement is consistent with EU standards, presupposing that initial capital of the banks must not be less than 5 million euros. The head of NBM said that the bill does not establish terms of increasing the size of the capital, as the tendency of capital’s growth is clearly observed and at the moment, all banks of Moldova own capital of at least 100 million MDL. Leonid Talmaci also noted that after validation of this bill, NBM will no longer regulate extra activity of the banks and the number of licenses issued to the banks, as well as the size of charges for obtaining new licenses for extra activities of the banks will reduce.