National Bank of Moldova
Administrator: Octavian Armaşu
Date of Founding: 04.06.1991
Country: Republic of Moldova
Address: 1 Grigore Vieru blvd., MD-2005 (Chisinau mun.)
The National Bank of Moldova (BNM) was founded by a presidential decree on 4 June 1991, and Leonid Talmaci was its first appointed governor.
BNM’s fundamental purpose, says the law, is to oversee and maintain the price stability. The central bank also manages the monetary and currency policies in the state; it acts as a banker and tax agency on behalf of the state; issues licenses to commercial banks, oversees and regulates the activity of financial institutions; mints the coins and prints the banknotes of the state, and sets out the exchange rate; stores and manages the nation’s currency reserves.
In November 2014 and in March 2015, under the Government’s guarantees, BNM lent more than 14 billion lei to three banks which had been used in a one-billion-dollar fraud (Savings Bank, Unibank, Banca Sociala). As not one leu has been repaid ever since, in October 2016 BNM change the status of that loan into internal state debt with the Government being committed to pay off by the year 2041 from the public budget, or taxpayers.
The central bank has had four governors: Leonid Talmaci (June 1991 - October 2009), Dorin Drăguţanu (November 2009 - April 2016), Sergiu Cioclea (April 2016 - November 2018), and Octavian Armaşu (30 November 2018 - present day).
The National Bank of Moldova is run by a 5 members executive committee and a supervisory board of 7 members. Website: www.bnm.md
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