Moldova has long been a money-laundering black hole. Then in 2014 they had a shock when more than $1bn was stolen from the bank sector – equivalent to 15% of GDP.
Belatedly the government is now responding. Stakes in three of the countries biggest banks, which together account for about 80% of the sector’s assets, have been sold to the European Bank for Reconstruction and Development (EBRD) and private investors and the central bank has been given real teeth to enforce regulations.
bne IntelliNews editor-in-chief Ben Aris talks to special advisor to the president and head of strategic planning at the country's biggest bank, Moldova-Agroindbank (MAIB), Corneliu Munteanu and asks if Moldova’s banking sector has turned the corner.
Ben Aris, editor-in-chief, bne IntelliNews
Corneliu Munteanu, special advisor to the president of Moldova, head of strategic planning at MAIB