BCR, BT to allow foreign exchange and bank transactions using Moldovan Leu (MLD)

Georgeta Gheorghe 01/10/2018 | 15:27

The Commercial Bank of Romania (BCR) and Banca Transilvania (BT) will allow foreign exchange and bank transactions using Moldovan Leu (L), at the request of the National Bank of Moldova.

The two largest licensed banks in Romania, the Commercial Bank of Romania (BCR) and Banca Transilvania (BT), will launch the foreign exchange service for Moldovan Leu (MLD) by individuals in Romania.

The first institution to confirm this was the BCR, which announced on Monday that the service will be offered across the entire Romanian territory. The areas where large numbers of Moldova citizens are present will be given special attention.

Up until now, 400,000 citizens have obtained Romanian citizenship. Romania is Moldova’s main trade partner. Trade with Romania accounts for 26 percent of exports and 14 percent of imports.

Romania is also an important tourist destination for Moldovans. According to data available for the first eight months of the year, Romania is the third favourite destination of Moldovan citizens. A total of 15 percent of Moldovan tourists traveled to Romania during that time. In addition, Romanian citizens represented 20 percent of tourists to Moldova, placing Romania first among countries of origin of foreign visitors.

The Romanian Commercial Bank is the sole shareholder of the Romanian Commercial Bank Chisinau and Banca Transilvania is majority shareholder together with the European Bank for Reconstruction and Development (EBRD).

 

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