LAW ON NONBANK CREDIT ORGANIZATIONS IS AIMED AT REGULATING THEIR QUALITY ACTIVITY - IURIE FILIP

The Law on nonbank credit organizations, which entered into force on October 1, in general meets the necessary level of regulating these organizations' quality activity in the Moldovan market, maintains member of the National Commission for Financial Market (NCFM) Iurie Filip.

In an interview to Infotag, he said that the new law does not imply tough requirements, though unlike the previous law, the new one says about some normative aspects, mandatory for fulfillment.

"For example, some of them are connected with the capital, assets, external audit, certain collection of professional requirements to company managers, the disclosure of information about the owners of credit organizations, as well as some data about those, from whom the financial resources are attracted", he said.

According to Filip, this is not the essence of regulating nonbank credit organizations, but it is mostly the observing of the adopted set of international standard requirements.

"We can say that from now on the regulator will have the right to demand to disclose certain information, which does not exclude the participation of other specialized state agencies in this process", Filip said, regarding this as one of serious directions of the NCFM activity in regulating the nonbank credit organizations' activity.