Vitalie Lemne was nominated candidate for Vice-Chairman of the National Commission for the Financial Market of Moldova (NCFM).
His candidacy was approved by the profile parliamentary commission on economy, budget and finance at a meeting on Wednesday. During the meeting of the commission, Vitalie Lemne spoke about his vision regarding the development of the capital market, insurance, microfinance, noting that, in general, the non-banking financial sector of Moldova is underdeveloped. Some MPs suggested that all candidates for NCFM leadership positions should be presented and approved at the same time, and not one at a time. However, since the work of the NCFM has been blocked for a month already, since all 5 members of the Managemet Board of the NCFM were dismissed, the profile parliamentary commission eventually approved the candidacy of Vitalie Lemne for the post of Vice-Chairman of the NCFM. In the future, Lemne's candidacy is to be approved at a plenary session of parliament. During the briefing, the chairman of the commission Dumitru Alaiba emphasized that the NCFM is an important institution for Moldova’s economy and its financial system, which did not act properly to prevent systemic crises and restore order in the market, especially in the insurance and microcredit sectors. "Some market players acted maliciously, did what they wanted, and the regulator did not react appropriately, there were no clear rules for everyone, the necessary tough measures were not taken, chaos was created, and consumers ended up suffering and not being protected," Alaiba said. He emphasized that after the resignation of the entire leadership of the NCFM, the parliamentary commission had the task of identifying good, honest, incorruptible, competent candidates with rich professional experience, capable of withstanding possible pressure, coping with the crisis, acting decisively and confidently in the market to restore order. He introduced Vitalie Lemne as a professional who has worked all his life in the financial system of Moldova, and for the last 12 years - in leadership positions, he demonstrated his professionalism, while working in the private, not the public sector. Vitalie Lemne, in turn, said that the new leadership of the NCFM will have to restart the model of the regulator's work, act more decisively in all segments, including in the field of insurance, where there was serious inaction before, as well as in the field of microfinance to restore order, resolve problems with huge interest rates on microloans, excessive debt burden of individuals. He also said that in general, the capital market will have to be developed from scratch. Vitalie Lemne is a graduate of the Academy of Economic Studies of Moldova, where he received education in the field of banking and finance. Since 2005, he has held various management positions at Moldova-Agroindbank, Bio Alianta and EXIMBANK Bank of Intesa Sanpaolo. // 06.10.2021 – InfoMarket
