OREANDA-NEWS  On 05 March was announced, that the Administrative Board of NBM approved the Regulation on the conditions of providing loans to the residents in the foreign currency by the licensed banks.

The regulation is applied to the following forms of lending in foreign currency: ordinary bank loans, credit lines, factoring, account (purchase) of bills, loans to carry out transactions using credit cards, overdrafts, and overnight. According to the document, licensed banks can provide loans to the residents in any foreign currency. Provision of loans in foreign currency to the residents for the purposes presupposed by the credit agreements concluded between the Government of Moldova and non-residents, licensed banks and international financial organizations, is carried out at the expense of loans / credit lines received by the banks in accordance with the above-mentioned agreements. If the credit agreements concluded between the Government of Moldova and non-residents, licensed banks and international financial organizations presuppose co-financing of loans, the banks can provide loans to the residents in foreign currency both at the expense of foreign creditors’ means and at their own expense, in proportions and terms established by the above-mentioned agreements. If the loans in foreign currency or their part are intended for making payments / transfers, which, in accordance with the currency legislation should be carried out in MDL, debtors are required to sell the banks the corresponding amounts of loans for MDL and use them in MDL only. The banks provide loans in foreign currency to individuals-residents with the condition of their use in non-cash form or using payment cards abroad. The banks, which issued loans in foreign currency, should check the use of loans for the purposes presupposed by the credit agreements.