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August 15, 2022
BUSINESS

Isarescu: The relation between banker and customer must be one of collaboration

The trend of over-regulating financial markets is a reason of concern not just for monetarists and libertarians, because it can stimulate taking risks under the cover of rules, and the solution resides in promoting ethics and professionalism, the governor of the National Bank of Romania (BNR), Mugur Isarescu said at the anniversary of 20 years since the founding of the Romanian Banking Institute, Mediafax informs. According to the BNR governor, the crediting relation is fundamentally human, of confidence, and only to a lesser extent it is a technical relation, which makes ethics and professionalism essential for building the profile of a banker characterised by “honesty, morality, a sense of justice and balance.” According to Isarescu, the mix between extremely free markets and a social state, strong economic growth and low inflation was the result of unique and unrepeatable events mainly related to the fall of communism and of the Iron Curtain. Also the BNR governor sees as unrepeatable elements the developments of China and India on the global markets, and there is little chance to witness similar evolutions in the future, because of more prudential policies aimed at preserving jobs. According to Mediafax, the Central bank governor went to Cotroceni Palace on Tuesday where he had talks with president Basescu. No information was available on the topics discussed.

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