Romania: Law No. 357 of 6 June, 2002

Emergency ordinance to amend and supplement law no.58/1998 -The Banking Act
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This is an official document of the Romanian Government presenting the amendments for Law number 58/1998 of the Banking Act of Romania.

The paper discusses the following issues;

  • Requirements for safe operations of the bank;
  • Setting of standards to check the quality of bank managers;
  • The quality of shareholders and groups;
  • Issues related to audited financial statements.

Apart from these issues, the document discusses the appraisal of managers, the board of members and shareholders within the specified time period, after the enforcement of this Law.

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