In line with the Law on Foreign Currencies Transactions, physical persons do not have the right to open bank accounts abroad and if such people appear in the 'Panama Papers', an investigation will be opened, says Macedonian National Bank Governor Dimitar Bogov.
He said that there is an inflow but also an outflow of money to Panama, as there is to other destinations.
"The outflows were made through the banking sector and are fully legal," Bogov stated.
He noted that not one central bank in the world can provide documents for cases such as the 'Panama Papers'.
"Those documents are provided under international agreements and accords. Central banks cannot request and they cannot obtain data. There are laws that regulate this matter, which do not allow the revelation of personal data and banking secrets," Bogov scored.
He explained that Macedonian companies can have an account and can make investments abroad, but physical persons, in line with the Law on Foreign Currencies Transactions, do not have the right to own bank accounts in foreign countries.
"If such persons appear in the 'Panama Papers', who have Macedonian citizenship only, an investigation will be launched," Bogov said.
He pointed that the money that appear in cases such as the 'Panama Papers' are most often taken out of the country illegally, and not through banking transactions.
The banks, he stressed, in the payment turnover abroad, have to fully abide to the existing laws.
"I don't believe that any bank would go into suspicious transactions because that would be detrimental for the bank, for its managers and stakeholders. Besides, the Macedonian National Bank makes controls at least once a year in each bank and checks the transactions and for every irregularity it has strict sanctions," Bogoev underlined.