OREANDA-NEWS. April 20, 2011. Its official presentation took place. The Director of the Biroul de credit (credit bureau) Silviu Foca said the Credit Reference Agency had been established by 14 Moldovan banks and two leasing companies (Raiffeisen Leasing и Total Leasing), the authorized capital of the company amounting to 13.8 million leis.

About 50 thousand individuals and legal entities are currently the Credit Reference Agency’s subjects and the online database is accessible for all companies – founders of the bureau. The Vice-Chairman of the National Commission for Financial Market Aurica Doina appreciated beginning of the bureau’s work, saying that both financial institutions and financial services consumers are interested in development of this instrument. “Functioning of the credit bureaus will facilitate receipt and provision of credits, will cut risks of financial institutions’ losses and will discipline loanders”, said Aurica Doina.

The National Bank Governor Dorin Dragutanu said beginning of the Credit Reference Agency’s activity will enable banks and other financial institutions to cut unfavorable credits risks and losses on them. According to him, the share of unfavorable credits in Moldova’s banking system currently makes up about 10% (2.7 billion leis). He also emphasized that existence of the credit bureau in Moldova means transition to the new financial market development level and contributes to enhancement of culture of financial services consumers.