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Improvement of the Internal Control System of Credit Risk in Banking Sector of the Republic of Moldova in Conditions of the COVID-19 Pandemic

Author

Listed:
  • Stela Ciobu

    (Investments and Banking Activity Department, Academy of Economic Studies of Moldova)

  • Anastasia Tataru

    (Investments and Banking Activity Department, Academy of Economic Studies of Moldova)

Abstract

The internal control system of credit risk in the banking sector of the Republic of Moldova is currently jeopardized by the effects of COVID-19 pandemic. The COVID-19 crisis has triggered five major challenges to the credit risk environment: changes in the credit worthiness at the sector and subsector level, difficulty in differentiating between borrowers in the same sector/subsector, scare, lagging data on crisis conditions, socially responsible collections needed to meet changing customer preferences, large wave of non-performing loans which must be addressed in a new way. Consequently, banking institutions are forced to identify new solutions in fostering the efficiency of internal control systems.

Suggested Citation

  • Stela Ciobu & Anastasia Tataru, 2021. "Improvement of the Internal Control System of Credit Risk in Banking Sector of the Republic of Moldova in Conditions of the COVID-19 Pandemic," Global Economic Observer, "Nicolae Titulescu" University of Bucharest, Faculty of Economic Sciences;Institute for World Economy of the Romanian Academy, vol. 9(2), pages 43-57, December.
    • Handle: RePEc:ntu:ntugeo:vol9-iss2-43-57
    as

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