Finances

SPECIAL ADMINISTRATION IN MICB EXTENDED TILL APRIL 20

21 january, 2020

The National Bank of Moldova extended the special administration in the Moldindconbank for three more months – till April 20.

As an argument for such a decision, the regulator pointed at the procedure of discussing candidates for the post of member of the bank executive committee. According to the NBM press service, such an appointment will allow renouncing the external management.

As Infotag has already reported, the NBM introduced external administration in the MICB in October 2016, when it blocked over 60% of shares of nontransparent shareholders. Since then, the MICB conducted a new issue of shares instead of the blocked papers, and was selling it on the public market. It was available for an investor or a group of investors who had special NBM permit for buying these shares.

In the end, this package of shares was bought by the state with its consequent selling to the “Doverie” fund from Bulgaria at a price of slightly more than 700 million lei. Since the moment of package buying, the regulator is considering the candidates for the bank Administrative Council and the Executive Board, proposed by shareholders.

Temporary administrator, who is currently managing the MICB, is Victor Cibotaru.

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