Shareholders are the basis of the bank's stability, and this can be achieved through transparency and corporate governance - Octavian Armasu.
The President of the National Bank of Moldova stated this, speaking at the forum "Listing on the international capital market" held in Chisinau. The event was attended by diplomats and high-ranking officials from Moldova and Romania, capital market professionals, representatives of international financial institutions, investors and heads of leading companies. Octavian Armasu welcomed the interest of investors with an international reputation in our financial and banking market. “Typically, a country appears “on the map” of capital markets through sovereign instruments such as Eurobonds. In our case, it was decided that this goal should be achieved on the basis of a private issuer that would make Moldova visible to world-famous investors. We are talking about the shares of MAIB, which was chosen by such means. And here it is necessary to pay attention to some important points,” said the President of the National Bank of Moldova. First of all, Octavian Armasu noted that Moldova - Agroindbank, which intends to enter the Bucharest Stock Exchange, is a systemic bank. “Any additional risk can be a risk for the country, so the NBM has treated this topic with the utmost seriousness and caution from the very beginning. Moreover, we will be the first country in the region where a bank will be listed on a market other than the local stock exchange. This means that, being the first, we will not be able to adopt the experience of other central banks in this matter,” added the head of the NBM. At the same time, he stressed that the shareholders are the basis of the bank's stability. “We must ensure the stability of the governing bodies – the General Meeting of Shareholders and the Supervisory Board. In the same way, shareholders play the role of financial support for the bank in difficult times. We must ensure that this role is assumed by the new shareholder structure,” said Octavian Armasu. According to him, these aspects are in the field of view of the NBM. “I mean those aspects that were introduced after the banking crisis and are designed to ensure the transparency of shareholders and the ability of the central bank to provide oversight of these shareholders. Among them are the obligation of shareholders to disclose information about the nominee and the ultimate beneficiary, the prohibition for residents from non-transparent territories to purchase shares of Moldovan banks, the ability of supervisory authorities to apply supervisory measures to non-compliant shareholders, as well as the maximum ownership that does not require authorization - an increase from 1% to 5 %,” said the head of the NBM. Octavian Armasu stressed that there is still a lot of work to be done, and efforts for the development of the country and the well-being of citizens should be joint, both with the participation of the state and with the participation of the private environment, investors. The Forum "Listing on the International Capital Market" was organized by MAIB with the aim of presenting to Moldovan companies the potential of access to capital financing through listing on the international stock exchange. // 13.12.2022 — InfoMarket
