National Bank of Moldova withdraws licenses of three exchange offices, suspends work of 13 ones

Chisinau, 25 May /MOLDPRES/- The National Bank of Moldova (BNM) has withdrawn license of three exchange offices, and suspended the work of 13 ones, as a result of controls carried out by the central bank. The verifications showed that 47 exchange units did not comply with the legislation in force, and 30 of them were warned.

According to a press release by the BNM, the exchange units were sanctioned for reporting errors or for having not reported information on exchanged rates applied. Also, BNM ascertained that the exchanged units had not used check-out machines or failed to provide the necessary information in a visible place for private people.

The sanctioned units did not have the established level of current assets in authorized capital and did not change the documents attached to the license application.

BNM warns that it will continue supervising the exchange units, in strict accordance with the provisions of the law on currency regulation and will apply proper measures, in order to discipline the exchange units which commit infringements of the legislation in force.

Over 400 licensed exchange offices are operating in Moldova, of which about 290 in Chisinau.

(Reporter V. Bercu, editor L. Alcaza)