Romanian banks invite authorities to partnership and ask for predictability

The Romanian Banks' Association - ARB highlighted the constructive role its members have had during the past couple of months since the coronavirus pandemic hit the country's economy and population.

The association suggested the authorities should partner with the banks for the economic recovery.

"We believe that the banking system should be a partner in this crisis, by being the solution to the recovery of the Romanian economy," a press release issued by ARB reads.

The banks' association says that it supports the conclusion of a constructive partnership with the authorities to finance the economy in predictable conditions.

Romanian banks have donated over RON 23.5 million (EUR 4.8 mln) so far, to support the fight against the COVID-19 pandemic. The money financed the purchase of medical equipment and devices to support the local health system and the affected population.

The banking system has also been among the only industries to adopt measures to help customers financially affected by the effects of the pandemic, ARB also said.

The ARB statements came after the Parliament voted new rules with a significant impact on the banking sector, such as capping interest rates on loans.

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