Chisinau, 4 April /MOLDPRES/- Lending institutions will be required to display the annual effective interest rate, ie the actual interest rate of the loan, plus all related fees, three times higher than other information mentioned in the advertisement, so that citizens are properly informed, the government's communication and protocol department has reported.
To increase the level of protection for consumers who take out loans and increase confidence in the financial sector, the Executive today approved the opinion on the draft law amending and supplementing some normative acts.
The bill also imposes minimum standards for responsible lending, by banning the application of floating interest rates on loans of less than three average salaries per economy.
At the same time, some provisions of the Civil Code are to be amended, so that credit institutions are required to notify the debtor (consumer) in electronic format in case of reduction of the interest rate applied by the bank for new loans, so that the beneficiary can renegotiate the credit agreement, depending on the fluctuations of the average interest rate on the banking sector.
Photo: Government
Facebook
Instagram
X/Twitter
Telegram
President of India to visit Moldova
Moldovan deputy PM for reintegration has meeting with delegation of parliamentary friendship group of Germany's Bundestag
Over 82,000 residents of Transnistrian region covered by Moldova’s medical insurance system
Over 100 civil servants of Moldova trained in applying Regulatory Impact Assessment
Report on Moldova's progress in implementing 2030 Agenda presented at United Nations
In Kyiv, Ukraine – South-East Europe Summit reaffirms regional cooperation for peace and shared resilience
Joint Declaration of Ukraine – South-East Europe Summit
Moldovan President meets with Ukraine's President in Kyiv
Construction of bypass road around city of Drochia progresses: Government approves new phase of project
Over 9,000 state-funded places for future students approved by Government
President on Ukraine Statehood Day: Thank you for reminding us what it means to fight for freedom
Deputy Prime Minister for Reintegration meets Ambassador of United Kingdom of Great Britain and Northern Ireland
VIDEO // President attends in Kyiv events dedicated to Ukraine’s Statehood Day and Ukraine – South-East Europe Summit
Acting Prime Minister at meeting with European Commissioner: We continue working to prove through concrete results that Moldova belongs in European family
Moldovan parliament speaker comments on raids at Molddata state enterprise
DOC // Ion Nicolaev appointed as vice president of Moldova's National Integrity Authority; decree signed by head of state
Rich apricot harvest in Moldova: up to 17,000 tons of high-quality fruits for export
Moldovan MPs ratify Convention allowing Ukraine to claim compensation from Russian Federation for war damages
National Bank of Moldova 
Progress in implementing public administration reform in Moldova examined at meeting of Strategy Secretariat
New Moldovan government members of introduced to ministries' teams
Moldova to have legal framework for crypto-assets' market
Greater fairness in social protection system of Moldova: maternity allowance to no longer depend on parents’ marital status
New measures for digitalization of justice in Moldova: more procedures to be carried out electronically
PHOTO // Moldova's National Army deploys new contingent to Kosovo; servicemen to carry out security, patrol missions
Moldova, Bulgaria strengthen cooperation: meeting between representatives of two countries' Chambers of Commerce and Industry
Moldovan deputy PM, Dutch Ambassador discuss evolution of relations between Moldova and the Netherlands, security cooperation
Searches at MoldATSA in case concerning mismanagement of enterprise; three people detained
PHOTO GALLERY // Story of bread from iron age presented at exhibition at National History Museum
Moldovan Foreign Affairs Ministry advises avoiding non-essential travel to Russia amid heightened security risks
Moldovan Foreign Affairs Ministry advises avoiding non-essential travel to Russia amid heightened security risks
VIDEO // Moldova's foreign affairs minister says relationship with Russia complicated, approach stays based on international law
Moldovan National Anticorruption Center's searches at MoldATSA: alleged corruption, abuse of office under investigation
VIDEO // Vulcanesti–Chisinau Overhead Power Line of 400 kV fully energized
DOC // Published in Moldova's Official Journal: registration of vehicles with dangerous defects or expired technical inspection to be automatically suspended
Voluntary amalgamation in central Moldova district: six mayoralties merge, to receive 40.8 million lei for development
DOC // Promulgation decree, law on electronic data exchange with EU states published in Moldova's Official Journal
Search for missing nine-year-old child continues in Ungheni district of Moldova; authorities activate crisis cell
Moldovan MPs to convene at plenary meeting on July 23; drafts on energy, justice, school infrastructure on agenda
Minimum wage to be gradually increased to 10,000 lei; Moldova's labour minister says government to initiate discussions with trade unions, employers
Receive the latest news directly to your email
Receive the latest news directly to your email