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Mr,NieolneTimui1i President ol"the Republic of Moldovrr Mr, r/rsnmr trrprr President, Parliament or Moldova Mr.
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Acting Pr-ima MannerMr. Darin Dragutanu
Governor, National Bank ofMoldnva (NRM) l8 April 20l3
Your Exeelleneies, l`he Commercial Bank “Moldova-Agroindbz\nk" (MAIB) is our largest partner bunk in the Republic ol' Moldova. Protecting and sustaining tire commercial orientation and good corporate governance nf`MAlB is ofparanrount importance to the heulth ofthe frrraneial sector' and to Moldova's economic pertbrmance, We do rrpprcerare the on-going ertrrns being made hy the Mnrdrrvarr arrrrruriues to ensure that only sound and r'eputable investors hold shares iu Moldovan banks, The recent developnrents in this regard, namely enactn-rerrt of tlre amendments to the Law on rrrnneiar trrsrinrrrrms and other related raw, appear to equip the Nam with the means to protect the integrity ofthe banking system. It is also our understanding thru. unlike in 201 1, the frnaneial market regulators have enhanced powers to suspend and
investigate doubtful share transfers and impose sanctions for illicit translerst However, we have become aware that transactions related to the shares of MALE are taking place that appear' ofa suspicious nature and similar to the eorporate raids which took place on MAIB in the summer of20l 1. We would kindly ask you to urgently look into the events and to ensure that all appropriate measures available underMoldovan law are taken to suspend lltese transactions and cancel their effect on the bank ifthey ure shown to be illicit. lt is impurtttnt to the integrity ofthe banking sector that airy movement of shares is made in a fully transparent and legal manner, with Hill tlisclusrrre ofthe final beneficial owner(s),
Given the potential risk to the banking system, which is ofnu tloubt oquirl concern to other institutions like the IMF, IFC andthe European Conrrnission, we will continue to coordinate our activities regarding this ease with them.
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