Non-bank financial institutions that will not disclose all information to citizens regarding the loan's conditions will be fined.

President of Moldovan Parliament, Andrian Candu, suggested for such companies to receive fines of 25 000 lei in case the conditions will not be respected. The document was discussed today at the Economic Committee and was supported by all deputies.

The document aims to ensure safety for citizens who take loans. According to the project's author, Andrian Candu, the rates and total amount of money that need to be returned has to be highlighted, for citizens to know the exact amount they need to repay.

Andrian Candu also wishes to introduce fines of 22 500 lei for unjustified raise in rates and taxes, as well as breaching the regulations by which they are calculated and set. Same punishment is also foreseen for cases when citizens are not informed of rate changes.

"Citizens must know all the information when taking a loan. Including the loan's cost. This is a good initiative" president of the Economic Committee, Ștefan Creangă said.

Deputies agreed that many breaches exist in this area, while people suffer from it.

"This became a tragedy. People are fooled. A person takes a loan and then has to pay two or even three times more. The contracts are not read, because I saw them, details are written with small shrift and in the end nobody can understand neither what and why they pay something" PSRM deputy, Zinaida Greceanâi said.

Some members of the Committee believe that non-bank financial institutions have more clients than banks due to the white lies people are told when taking a loan.

"The banks can also offer loans, but are less popular, because other institutions offer a simplified method" PDM deputy Marcel Răducan explained.

Citizens of the Capital though, claim that they do not trust non-bank financial institutions.

"We do not trust them. We are afraid of trouble. -What would be the risks? -They lie. We do not deal with such institutions."

"You feel more safe at banks, more protected."

"Measures must be taken ,because people are told white lies. At first they are shown one thing, but when you reach the point to take the law the situation is completely different."

The document also fortresses for searches to be performed in case the complaints were submitted against the institution.

Previously, PDM leader Vlad Plahotniuc, spoke of the lack of transparency in loans.

After multiple citizens complained of the difference between advertisement and reality. At the moment, in Moldova are activating over 160 non-bank financial institutions.