18.07.2014

Minister of Finance Petar Chobanov had a telephone conversation with the Chief Executive Officer of State General Reserve Fund of the Sultanate of Oman H.E. Abdul Salam bin Mohammed bin Abdullah Al Murshidi. The Fund owns 30% of the capital of Corporate Commercial Bank AD (CCB).

During the conversation both parties expressed confidence that both the Bulgarian State and the Oman Fund observed the statutory provisions in their actions in the case of CCB. The speculative theses imposed in the past days that the shareholders have not been invited in the finding of a working solution regarding the bank have been rejected. Both parties reiterated their willingness to make every effort to find such a solution.

Minister Chobanov reconfirmed that the law had been observed and an opportunity would be given to the present shareholders to provide the necessary resources (capital and liquidity) while the state institutions would intervene in line with their powers under the law if the shareholders had no success. This is also bound with the work under the special supervision procedure imposed by the Bulgarian National Bank for three months. Finding a private solution of the problem that does not require public resources is the most desired exit from the current situation.