On Point. The Financial System: From Transparency to Trust
Automatically translated summary. The full text is available in Romanian.
Following the stabilisation of Moldova's banking sector in 2014–2015, a broad reform process has extended to insurance, capital markets and non-bank finance. This Independent Think Tank “Expert-Grup” article argues that transparency and accountability of financial institutions sustain trust and market stability, and outlines the priority actions still needed.
Financial institutions, including banks and insurers, are public-interest entities obliged to publish financial information, details of their risks, and data on shareholders and administrators. The legal framework sets general disclosure requirements, but specific actions remain to be completed.
The priorities are: finishing shareholder transparency beyond systemic banks, to cover smaller banks, insurers, microfinance and leasing companies, including assessment of the reputation and financial capacity of final beneficiaries; ensuring sound corporate governance, with professional and honest management; adopting related legislation specifying what information must be published and how; selling share packages to good-quality strategic investors under the legal procedure already adopted; and launching the Central Securities Depository, which will add safety and clarity on final beneficiaries.
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