Skopje, 13 January 2003
Press release of the NBRM
Stirred by the measures undertaken by the National Bank of the Republic of Macedonia against the Export Import Banka a.d. Skopje, some of the media announced speculations mentioning the names of several other banks in the Republic of Macedonia. The Supervision Department of the National Bank of the Republic of Macedonia would like to ask the journalists and editors in chief of all printed and electronic media to be extremely responsible when mentioning names of banks, since the bank’s operations are based mostly on the confidence of the citizens and other clients. Each speculation leading to loss of confidence in a certain bank, deteriorates the position not only of the particular bank, but also of the banking system as a whole. In this context, we stress that the information announced in the news on Telma television on January 10, 2003, according to which the same measure as in the case of Export Import Banka will be undertaken against two other banks, represents a pure speculation, which causes a lot of harm not only to both mentioned banks, but endangers the general stability of the banking system as well.
The Republic of Macedonia is one of the rare countries in transition that succeeded in avoiding a systemic banking crisis with all its subsequent consequences to the citizens and the whole economic system in the last ten years, although 2001 was a school example for that to happen.
The Supervision Department of the National Bank of the Republic of Macedonia is willing to co-operate with all printed and electronic media, using this opportunity to advise them to verify the information about the banks’ operations before they announce it. In this way, the National Bank of the Republic of Macedonia and the media, within their scope of activities and responsibilities, will contribute to a maximum protection of the interests of the depositors, other banks’ creditors, thus contributing to the maintenance of a safe and sound banking system.
Ilija Graorkoski
Supervision Department
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