of June 16, 1992 No. 33
About approval of Rules No. 3 about procedure for issue of licenses for carrying out separate banking activities and procedure for regulation of activities of the non-bank commercial organizations (credit institutes)
Administrative board of National Bank of Moldova according to the Laws of the Republic of Moldova "About the National national bank of Moldova" (Articles 21, 26), "About banks and banking activity" (Articles 2, 10), "About joint-stock companies" (Article 39), decides:
1. Approve and enact Rules No. 3 "About procedure for issue of licenses for carrying out separate banking activities and procedure for regulation of activities of the non-bank commercial organizations (credit institutes)".
2. To all non-bank credit institutes (to the public and insurance companies, cooperative partnerships, the savings companies, firms according to the securities trading, pension, mortgage funds and other commercial (joint-stock) organizations providing in the charters attraction and investment of funds in type of loan and other highly specialized separate banking activities to managements of National Bank of Moldova to be guided by these Rules No. 3 in the practical activities and implementation of banking supervision.
President of National Bank of Moldova
1. According to article 4 of the Law of the Republic of Moldova "About banks and banking activity" the concept of credit institutes includes the legal entities and physical persons performing separate banking activities. Such independent commercial organizations as treat the non-bank credit institutes performing attraction and investment of funds in type of loan and other highly specialized separate banking activities: insurance and credit companies (joint-stock and with the limited liability), cooperative, savings partnerships, pension, mortgage and other public and trust funds, firms on security sale and other commercial (joint-stock) organizations, i.e. legal entities and physical persons which main activities have commercial character and it is directed to accomplishment of certain type of business activity, protection of valuable and private interests of entrepreneurs, individuals, the companies and economic organizations.
Along with implementation of core activities, carrying out the credit operations connected with attraction and investment of funds of founder unitholders (shareholders) and clients can be provided in Charters of these organizations (joint-stock companies) in the presence of own resources.
However implementation of any banking activities can be made only after approval of the charter by founders (shareholders), its registration in the State commercial register and receipts of the license of National Bank of Moldova.
2. The authorized capital of such credit institutes is created only at the expense of equity of his participants (unitholders, shareholders), share of participation of each of them shall not exceed 35 percent of the size of authorized fund.
Amounts of the performed banking activities cannot exceed the size of paid authorized fund.
The minimum size of authorized capital of the credit institute providing carrying out separate banking activities cannot be less than 5 million rubles, and for created on the basis of the private and cooperative equity - 0, 5 million rubles, taking into account the foreign capital - 250 million rubles.
By the time of the beginning of implementation of separate banking activities the established (announced) authorized capital shall be completely paid.
3. For receipt of the license for carrying out separate banking activities the following documents are provided to National Bank of Moldova:
3.1. The notarized copy of the registration certificate of credit institute and receipt of the registration number in the State commercial register issued by relevant organ of management according to the Law of the Republic of Moldova "About entrepreneurship and the companies";
3.2. Petition of the head of credit institute for licensing of National Bank of Moldova for carrying out separate banking activities;
3.3. Notarized copies of the Charter, foundation agreement and protocol on creation of credit institute;
3.4. Economic case of need, feasibility and opportunity for carrying out specific banking activities;
3.5. Settlement balance of credit institute (for the end of the first year of activities taking into account carrying out the licensed banking activity) on appendix form N 1 and the actual reporting balance on the last reporting date;
3.6. The plan of the income, expenses and profit (for the end of the first year of activities taking into account carrying out the licensed banking activity) on appendix form N 2 and the last income statement, profit and losses;
3.7. Data on professional suitability of ranking officers who will be directly engaged in implementation of the licensed banking activities and who shall have faultless goodwill, have economic education, not have criminal record;
3.8. Registration card (on appendix form N 3).
4. For receipt of the license for making of separate banking activities by the credit institute created with participation of the foreign capital in addition to above-stated in Item 3 the following documents are submitted:
4.1. The copy of the Charter of the founder or his supporting other document and the published balance for three previous years;
4.2. The decision of relevant organ of the non-resident shareholder, participant on creation of the joint commercial organization in the territory of the Republic of Moldova;
4.3. Participants - foreign citizens represent the written confirmation of the solvency (the first-class foreign bank or at least from two foreign legal entities or individuals with the known solvency).
5. The request for receipt of the license about carrying out banking activities is considered by National Bank of Moldova within no more than 45 days from the date of its giving.
Along with licensing for carrying out separate banking activities the National Bank of Moldova makes registration of the commercial organization (credit institute) in the book of registration and assigns it registration number.
In case of receipt of the license for carrying out separate banking activities the credit institute represents to National Bank of Moldova the payment order on introduction of payment for the license in the amount of 20 thousand rubles.
The National Bank of Moldova can refuse licensing, and also revoke earlier granted license for carrying out separate banking activities on any of the following bases:
6.1. Discrepancy of the foundation agreement and Charter of the commercial organization (credit institute) to the bank law operating in the Republic of Moldova;
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