The essential feature of the bank deposit is the right of the credit institution
to dispose of the amount entrusted to it.
Nevertheless, the process of establishment and authorisation had a particularity, with regard to both the regime generally applicable to a credit institution
(of the type involving banks, loans on mortgage and credit cooperative organisations) and their previous legal regime.
According to the law the attainment of the approval for setup does not guarantee the attainment of the operating permit, but only indicates the permission given to the shareholders/members to proceed to the set-up of the credit institution
according to the legal provisions and in accordance with the methods provided in the documentation submitted to the National Bank of Romania.
The prior approval of the Bank of Greece is required for a credit institution
to invest in other companies in amounts that exceed the lower of GRD 700 million or 2 percent of capital.
Additionally, in accordance with paragraph 7 of the directive, credit institutions
should refer borrowers to the new Dispute Resolution Committee (running since September 30, 2013) in instances where there are disputes and cannot be resolved.
Wheras a credit institution
is defined separately from the activities in which it is allowed to engage, an investment firm is defined as a firm that engages in any of the activities listed in the directive.
CBC also notes that it is very important, for the borrower, once approached by a credit institution
, to provide all necessary information requested.
According to former Economy and Energy Minister Delyan Dobrev, GERB is in favor of ideas aimed at increasing investments in Bulgaria but the party opposes the proposal to restore the practice of awarding permanent residence permits to foreigners who had deposited over BGN 1 M at a licensed credit institution
The government allowed termination of a fixed term deposit before maturity for the payment of real estate in the Republic provided the funds are paid directly into the loan account of the seller of the real estate within the same credit institution
and the loan of the seller of the real estate was granted prior to the entry into force of the capital controls, on March 27, and the justifying documents are presented to the credit institution
and no sufficient credit balances are available in a sight/current account, with the same credit institution
, to cover the payment.
In his annual report, the Ombudsman said many of the complaints received were later settled within the internal complaints procedure of the relevant credit institution
NAFIN) is a Mexican development bank and national credit institution
These include the increase in amount of non-cash payment or money transfer from e1/410,000 to e1/415,000 per month per natural person in each credit institution
regardless of the purpose.