Romania passed an anti-money laundering law

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A Polish fintech bank with the Lithuanian license?

Croatia: prices of new apartments up

Romania

The Romanian Senate passed a law that transposes the European Anti-Money Laundering Directive into the local legislation. There are some exceptions as the law excludes “politically exposed persons”. According to Romania Insider the president, prime minister, ministers, MPs, political party leaders and other officials will be exempted from a closer anti-money laundering monitoring by banks, notaries, accountants or real estate brokers.

The law also provides that all companies with bearer shares should be transformed into regular stock companies within a year and a half, or they will be dissolved. Bearer shares allow the anonymity of a company’s owners, which can be used to hide illegal activities.

Recently, the European Commission referred Romania to the EU Court of Justice for failing to transpose the anti-money laundering directive in due time.

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Lithuania

The Baltic Course informs that Horum Bank — a Polish blockchain-based bank — will soon apply for a license from the Bank of Lithuania. As reported, the Horum Bank has EUR93-116m of funds accumulated for the start of its activity.

“We are a team of experienced managers of leading international banks and blockchain experts, who gathered together to set up a completely new bank. It will be a pan-European, a fully digital bank for the most financially undiscovered segments of clients, including SMEs and affluent persons,” the Baltic Course quotes Michał Turalski, one of the founders of the bank and the head of marketing.

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Croatia

The Croatian Bureau of Statistics informed that in H1’18 the average price of a square meter in new apartments was HRK10,829 (EUR1,460). It’s up 4.7 per cent y/y. In the capital city, Zagreb, the average price was HRK12,397, up 6.4 per cent y/y. In other regions of the country it was on average HRK9,785.

In H1’18, 1,310 new flats were sold in Croatia, including 500 in Zagreb. 173 of them were POS flats — purchased under the government-subsidised housing programme. 1,137 were sold by companies or other legal entities.

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What’s up in indexes

BET (of Bucharest) decreased from 8,382.72 index points Friday, September 21st to 8,377.37 index points Monday, September 24th. It’s down 0.06 per cent d/d and up 6.20 per cent y/y.

BUX (of Budapest) increased from 35,783.48 index points Friday, September 21st to 35,786.54 index points Monday, September 24th. It’s up 0.01 per cent d/d and down 6.09 per cent y/y.

CROBEX (of Zagreb) increased from 1,803.76 index points Friday, September 21st to 1,810.29 index points Monday, September 24th. It’s up 0.36 per cent d/d and up 1.93 per cent y/y.

OMXR (of Riga) increased from 986.72 index points Monday, September 21st to 989.36 index points Monday, September 24th. It’s 0.27 per cent change d/d and down 0.35 per cent y/y.

OMXT (of Tallinn) decreased from 1,219.94 index points Friday, September 21st to 1,218.46 index points Monday, September 24th. It’s down 0.12 per cent d/d and down 0.91 per cent y/y.

OMXV (of Vilnius) increased from 690.52 index points Friday, September 21st to 691.61 index points Monday, September 24th. It’s up 0.16 per cent d/d and up 7.38 per cent y/y.

PX (of Prague) decreased from 1,101.71 index points Friday, September 21st to 1,093.46 index points Monday, September 24th. It’s down 0.75 per cent d/d and up 4.99 per cent y/y.

SAX (of Bratislava) closed at 328.07 index points Monday, September 24th. It’s 0 per cent change d/d and up 0.27 per cent y/y.

Monday, September 24th was a non-trading day at Sofia Stock Exchange. SOFIX closed at 623.48 index points Friday, September 21st. It’s down 8.13 per cent y/y.

UX (of Kyiv) decreased from 1,637.76 index points Friday, September 21st to 1,626.51 index points Monday, September 24th. It’s down 0.69 per cent d/d and up 45.11 per cent y/y.

WIG20 (of Warsaw) increased from 2,257.47 index points Friday, September 21st to 2,286.06 index points Monday, September 24th. It’s up 0.24 per cent d/d and down 6.81 per cent y/y.

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