The Executive Board of the National Bank of Moldova approved on 16th of May 2016 the decision to sanction with fines certain shareholders of BC “EuroCreditBank” S.A. for the failure to submit the information/documents required by the National Bank in order to exercise its supervision function and to assess the suitability of shareholders, according to the provisions of the Law on financial institutions no. 550-XIII of 21.07.1995 [1] and the Regulation on holding equity interest in the capital of banks no. 127 of 27.06.2013 [2] of the National Bank.
The amount of fine applied is 2% of the equity interest held by the aforementioned shareholders in the share capital of the bank, which will be paid to the state budget.