On February 25, the National Bank decided to make procedures easier and the conditions more accessible under which Macedonian citizens can open bank accounts abroad.
Economic analysts believe that the decision of the National Bank casts great doubt, because of the political circumstances in which it is was made. They believe that only time will tell what kind of liberalization this is.
According to former Finance Minister and professor Nikola Popovski, the decision was made hastily.
“Currently in Macedonia, many serious official procedures have started in connection with dealing with crime in state institutions, and corruption among state officials. A large part of them have dual citizenship and passports from other countries, so such liberalization gives way for assets to be moved around in a corrupt manner”, said Popovski.
According to economic analyst Slobodan Najdovski, the Governor should explain the reason behind this decision.
“The public should know the accurate reason and cause of the new changes, explain the new easiness of opening accounts out of the country by individuals. What are the motives, whether they have just made it easier for citizens, or have they allowed certain individuals to move illegally obtained money out of Macedonia”, said Najdovski.
The National Bank (NBM) for “Meta” stated that people who have Macedonian passports can open accounts in foreign banks, with valid documentation that proves temporary stay abroad, which is basically a visa.
