The Executive Committee of the National Bank of Moldova appointed the Bank’s vice governor Aureliu Cincilei as president of the Administrative Committee of BC Moldindconbank SA. In virtue of the Law on the National Bank of Moldova, the duties of vice governor Aureliu Cincilei were suspended for the period of the early intervention, IPN reports.
The temporary administration at Moldindconbank was instituted within the early intervention regime following concerted actions taken by a group of persons to acquire a substantial shareholding in the bank, of 63.8%, without the preliminary written consent of the National Bank of Moldova, violating thus the Law on Financial Institutions.
Leonid Talmaci, who earlier held the post of president of the Administrative Committee of Moldindconbank, was named as adviser to the president of the bank’s Board by Aureliu Cincilei. During the early intervention, the National Bank of Moldova will be counseled by U.S. specialist John W. Quill, who worked as senior expert in the financial-banking sector at the International Monetary Fund.
The bank’s Board will be managed by Lithuanian expert Giedrius Steponkus, who has a rich experience in the financial-banking and investment sectors. Other independent members will be named to the Board in the near future.
The National Bank said Moldindconbank will continue to work in normal regime and will provide all the services, including those related to deposits, loans and withdrawals.
