Bank Shareholder Transparency Rating in Moldova, April 2017
Automatically translated summary. The full text is available in Romanian.
The Independent Think Tank “Expert-Grup” has calculated its Bank Shareholder Transparency Rating for Moldova as of April 2017. Compared with the July 2016 edition, only one change appears in the ranking: B.C. Moldindconbank moves up one position, following measures taken by the National Bank of Moldova.
The shift was possible because the National Bank of Moldova identified a group of persons acting in concert that had acquired a substantial stake in the bank without its prior written permission. Their rights were suspended and an early intervention regime was introduced. Expert-Grup concludes that shareholder transparency is strengthening, with remaining gaps linked to individual shareholders rather than whole banks.
Under the new IMF financing memorandum, the National Bank is identifying the ultimate beneficiaries of all bank shareholders, with completion planned by the end of June 2017. This will not automatically increase transparency for the public, so Expert-Grup will keep monitoring bank websites. It recommends disclosing real rather than nominal beneficial owners, together with CVs, business activity and involvement in the bank. The document was published with support from the Embassy of the Netherlands in Bucharest.
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