Difference between banking and nonbanking sectors, campaign

Both the banking sector and the nonbanking sector form the country’s financial system where those who have savings can invest these. Those who need financial resources can attract them. Information about the differences between the two sectors is provided in a video that was presented by the National Bank of Moldova in connection with the information and awareness-raising campaign “Financial education - a personal, social and economic benefit” that was launched this week, IPN reports.

The banking sector includes the licensed commercial banks that in the Republic of Moldova are 11 in number. The nonbanking sector consists of investment societies, such as insurance companies, nonbank lending organizations, savings and loan associations.

In the banking sector, the investments take the form of deposits and up to 50,000 lei of the deposited sum is guaranteed, which is the depositor gets the money back regardless of the economic developments or bank crises.

The people can also invest in the nonbanking sector, for example in financial titles, while the savings and loan associations can attract loans from people living in the zone. Usually, the nonbank entities use own funds.

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