National Bank of Moldova

Leading Europe

Moldovan lei and euros bills. Photo: National Bank of Moldova Facebook page

Inflation is the top concern not just of many economists across Europe but also ordinary citizens, as inflation rates reach levels not seen in decades. Yet Moldova is in the inglorious position of leading Europe, at least on this front.

The main and enduring message of the National Bank of Romania (BNR) for the National Bank of Moldova is that of a sustainable and robust partnership, BNR governor Mugur Isarescu said on Friday at the signing ceremony of the new Cooperation Agreement between the Romanian and the Moldovan central banks.

Moldova's General Prosecutor, Alexandr Stoianoglo, on Monday said the fugitive tycoon Vlad Plahotniuc, the former leader of the Democratic Party, PD, had illegally got hold of 100 million US dollars from the banking system.

Moldovan prosecutors on Thursday detained four members of the board of the National Bank of Moldova, BNM, all current or former leaders of the bank, in relation to the so-called grand theft of a billion US dollars from the banking system between 2012 and 2014.

Economic and political analysts in Moldova have criticised an initiative by President Igor Dodon and the government led by Ion Chicu to shift 50 per cent of the National Bank of Moldova's annual profits into the state budget, describing it as a populist move that will not benefit ordinary people in the country.

National Bank of Moldova statistics on the first quarter of 2019, published on Tuesday, show that Israel has overtaken Russia as the leading source of financial remittances from Moldovans working abroad.

It is for the first time in the last two decades when Russia has not held the first place as the source of remittances from emigrant Moldovans.

The subsidiary of the Bulgarian "Doverie United Holding" - "Doverie - Invest" formally concluded a preliminary contract for the acquisition of 63.8% of the capital of the Moldovan bank Moldindconbank. This is clear from a notification to the Financial Supervision Commission (FSC) and the Bulgarian Stock Exchange.

The leader of opposition Action and Solidarity Party in Moldova, Maia Sandu, on Tuesday in Bucharest asked Romania to help investigate the "grand theft" of a billion US dollars from Moldova's banking system between 2011 and 2014, on the grounds that Romania was one of the destinations for the stolen cash.

The National Bank of Moldova on Thursday published a detailed summary of the second investigative report by US company Kroll and Steptoe & Johnson, which backs prosecution claims that the banker and mayor of the town of Orhei Ilan Shor was behind the huge bank fraud that rocked the country in 2014.