Moldovan MPs made amendments to law on non-bank lending

13:28 | 27.10.2022 Category: Economic

Chisinau, Oct. 27 /MOLDPRES/- MPs adopted today in the second reading the draft amendment to the regulatory framework of the market of non-bank lending organizations (OCN).

The law sees that all non-bank lending organizations will be required to conduct regular audits of financial statements. Additional criteria will also be established for the administrators and leaders of the OCN. They will have to have higher education in the fields related to economic sciences, law and have at least two years of experience in relevant fields.

At the same time, clauses were included in the law on suspension of the activity of the non-bank lending organization that violates the regulatory framework.

Another amendment gives OCN the right to set up or liquidate branches or secondary offices. By applying the new law, it is intended to increase the quality of corporate governance of non-bank lending organizations.

Photo: Parliament

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