The National Bank of Moldova (NBM) has initiated the process of reassessing the regulatory framework, including that related to the conflict of interests, behavior and ethics within the institution.
Vladimir Munteanu, Vice-President of the Supervisory Board and First Vice-Governor of the National Bank of Moldova, announced this at the public hearings organized by the Parliamentary Commission for Economy, Budget and Finance, dedicated to the difficulties and leverages to enforce the recovery of financial resources withdrawn from the banking system within the so-called "bank fraud". The hearings are the continuation of the process of assessing the recovery of financial means stolen from the banking system, launched in November 2023. Vladimir Munteanu said that following the results of the previous hearings, the National Bank initiated the process of reassessing some internal documents, and 2 NBM employees were dismissed and given a certain status in the criminal case of bank fraud. According to him, the normative framework regarding the conflict of interests, behavior and ethics inside the institution are also to be evaluated. Vladimir Munteanu said that a series of meetings were held with the representatives of the responsible authorities, during which the NBM's status in the process of recovering the financial means stolen from the banking system was confirmed. The discussions also focused on some obstacles faced by the liquidators of the three banks from which the money was withdrawn. Vladimir Munteanu also noted that the topic of bank fraud remains on the regulator's permanent agenda and was discussed, among others, with external development partners. For example, some recommendations in this regard were presented following the recently completed mission of the International Monetary Fund. In the course of the hearings, representatives of the specialized agencies presented indicators of the progress in the recovery of damages caused by bank fraud. Thus, in its area of responsibility, the National Anti-Corruption Center provides monthly and quarterly information related to the recovery of funds. As a result of joint meetings with representatives of the Anti-Corruption Prosecutor's Office, the National Bank and Banca de Economii (which is in the process of liquidation), practical solutions were identified for some assets previously seized and held by the criminal prosecution authorities. These assets are currently subject to evaluation by bailiffs and some of them are to be sent to bailiffs to initiate capitalization procedures. The representative of the National Union of Enforcement Agents provided information on the process of recovering funds stolen from the banking system. According to the information, several enforcement documents on recovery of funds are at the disposal of the executive body. However, there are some difficulties in the execution of court decisions, which lead to delaying the whole process, such as: the need to allow the executive body to apply to the Criminal Assets Recovery Agency for further verification of debtors' assets in the country and abroad; the changes made to the national structure, which led to the fact that the assets sold by banks in the process of liquidation become unattractive and, as a consequence, their value decreases; the need to exclude from the executive body the assets sold by banks in the process of liquidation. It is worth noting that the main part of the hearing was held in a closed format, also because some of the information related to pending criminal proceedings. // 08.04.2024 – InfoMarket
