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CNAA / Theses / 2021 / July /

Improving the Financial Control System in the Commercial Banks of the Republic of Moldova

Author: Raiețchi Eugeniu
Degree:doctor of economics
Speciality: 08.00.10 - Finance; Monetary Economics; Credit
Scientific adviser: Cristina Dolghii
doctor, professor, Moldova State University
Institution: Moldova State University


The thesis was presented on the 29 July, 2021
Approved by NCAA on the 4 October, 2021


Adobe PDF document0.80 Mb / in romanian


CZU 657.63:336.713(043)(478)

Adobe PDF document 3.65 Mb / in romanian
202 pages


financial control, regulation, crisis supervision, risk, credit activity, diagnosis, forecasting, multifactorial discriminant analysis, FinTech instruments, economic growth


Structure of the thesis: annotation, introduction, 3 chapters, general conclusions and recommendations, bibliography, tables, figures and annexes. The research is reflected in 11 scientific publications.

Research field: economy; financial control of banks’ activity.

The aim and objectives of the thesis are methodological and practical development of the financial control instruments in banks through the elaboration of a new model for the diagnosis and forecast of the financial crisis, elaboration and implementation of recommendations for avoiding and / or anticipating crisis situations in the banking sector of the Republic Moldova.

Scientific novelty and originality consists in deepening and developing the concept of financial control of the banking activity; identifying and systematizing the problems generating the financial crisis situations in the domestic banking sector and determining the efficiency of their management by the NBM; appreciation of the conditions and the need to capitalize own funds in the domestic banking sector, as well as to argue the need for further consolidation through the implementation of Basel IV; researching the instruments of banking regulation and supervision, in order to intervene in crisis situations; recommendations regarding the development of the financial control system of banks, following the evolution of the banking business model; elaboration and implementation of the Z-scoring, diagnostic and forecasting model of the financial crisis for domestic banks, based on the discriminant analysis method.

The important scientific problem solved in the researched field consists in the diagnosis and forecasting with high accuracy of the crisis situations in the domestic banking sector by applying the modern instruments of financial control and implementing new mechanisms, which offer the diagnosis and forecasting of the financial crises from their beginning phase, which will allow management in time to take sufficient corrective measures, related to events that directly or indirectly threaten the bank’s activity.

The theoretical significance and applicative value of the work is determined by the deepening theory and methodology in order to develop the financial control in the banking sector, to evaluate the development of the regulatory and supervisory instruments through the evolution of the Basel agreements; examining and completing the nature of the financial crisis factors and the circumstances of their occurrence in the banking sector; to argue the new approaches to prevent financial crises in banks, or to reduce the risk of their emergence in the domestic banking sector. At the same time, in order to substantiate those described above, the author proposed a new model, based on the discriminant analysis method, in order to diagnose and predict financial crises in banks.

The implementation of the scientific results: the model for diagnosis and forecast of the financial crisis and some recommendations elaborated by the author were accepted for implementation in several banks in the Republic of Moldova, DLC and in the international auditing company BDO, as evidence being the certificates for the implementation of the scientific results, attached to the PhD thesis.