Improvement of the Internal Control System of Credit Risk in Banking Sector of the Republic of Moldova in Conditions of the COVID-19 Pandemic
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 subsect...
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
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Nicolae Titulescu University
2021-12-01
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| Series: | Global Economic Observer |
| Subjects: | |
| Online Access: | http://www.globeco.ro/wp-content/uploads/vol/split/vol_9_no_2/geo_2021_vol9_no2_art_005.pdf |
| _version_ | 1829105604813127680 |
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| author | STELA CIOBU ANASTASIA TATARU |
| author_facet | STELA CIOBU ANASTASIA TATARU |
| author_sort | STELA CIOBU |
| collection | DOAJ |
| description | 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. |
| first_indexed | 2024-12-12T06:09:40Z |
| format | Article |
| id | doaj.art-c084a9a18c05444898269840c93b6757 |
| institution | Directory Open Access Journal |
| issn | 2343-9742 2343-9750 |
| language | English |
| last_indexed | 2024-12-12T06:09:40Z |
| publishDate | 2021-12-01 |
| publisher | Nicolae Titulescu University |
| record_format | Article |
| series | Global Economic Observer |
| spelling | doaj.art-c084a9a18c05444898269840c93b67572022-12-22T00:35:12ZengNicolae Titulescu UniversityGlobal Economic Observer2343-97422343-97502021-12-01924357Improvement of the Internal Control System of Credit Risk in Banking Sector of the Republic of Moldova in Conditions of the COVID-19 PandemicSTELA CIOBU0ANASTASIA TATARU1Investments and Banking Activity Department Academy of Economic Studies of Moldova Banulescu Bodoni 61 str. REPUBLIC OF MOLDOVA, stela.ciobu@gmail.comInvestments and Banking Activity Department Academy of Economic Studies of Moldova Banulescu Bodoni 61 str. REPUBLIC OF MOLDOVA, anastasia.eclat@gmail.com 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.http://www.globeco.ro/wp-content/uploads/vol/split/vol_9_no_2/geo_2021_vol9_no2_art_005.pdfinternal control systemcredit riskcovid–19impactbanking sectorimprovementconsolidationaudit |
| spellingShingle | STELA CIOBU ANASTASIA TATARU 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 internal control system credit risk covid–19 impact banking sector improvement consolidation audit |
| title | Improvement of the Internal Control System of Credit Risk in Banking Sector of the Republic of Moldova in Conditions of the COVID-19 Pandemic |
| title_full | Improvement of the Internal Control System of Credit Risk in Banking Sector of the Republic of Moldova in Conditions of the COVID-19 Pandemic |
| title_fullStr | Improvement of the Internal Control System of Credit Risk in Banking Sector of the Republic of Moldova in Conditions of the COVID-19 Pandemic |
| title_full_unstemmed | Improvement of the Internal Control System of Credit Risk in Banking Sector of the Republic of Moldova in Conditions of the COVID-19 Pandemic |
| title_short | Improvement of the Internal Control System of Credit Risk in Banking Sector of the Republic of Moldova in Conditions of the COVID-19 Pandemic |
| title_sort | improvement of the internal control system of credit risk in banking sector of the republic of moldova in conditions of the covid 19 pandemic |
| topic | internal control system credit risk covid–19 impact banking sector improvement consolidation audit |
| url | http://www.globeco.ro/wp-content/uploads/vol/split/vol_9_no_2/geo_2021_vol9_no2_art_005.pdf |
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