Two more new members are to be appointed to the Supervisory Board of the National Bank of Moldova.
This was announced by the National Bank, recalling that the new Supervisory Board of the NBM recently included Natalia Gavrilita (former Prime Minister) and Vitalie Lemne (former Deputy Chairman of the NCFM). The new members of the Supervisory Board were introduced to their colleagues by the First Vice-President of the NBM Vladimir Munteanu, later they got acquainted with the activities and management of the NBM. Natalia Gavrilita and Vitalie Lemne took office after the expiration of the term of office of the former members of the Supervisory Board, appointed by the Parliament. According to the National Bank, 2 more members of the Supervisory Board are to be appointed. The Supervisory Board of the NBM consists of 7 members, whose term of office is 7 years with the possibility of extension. In particular, the Supervisory Board includes: the Chairman, who is also the President of the National Bank; Deputy Chairman, who is also the First Vice-President of the NBM; 1 member who is the vice-president of the NBM; 4 members who are not employees of the NBM. In accordance with the law, the Supervisory Board is responsible for organizing an effective system of independent public control over the activities of the National Bank. Its responsibilities include: approval of annual reports and financial statements of the National Bank; setting standards for the internal control system, checking and evaluating on an ongoing basis the functioning of the internal control system and its components; establishment of the norm of professional ethics in the National Bank; determination of the wage fund of the NBM and the level of wages of the members of the Executive Committee; setting the conditions for granting loans to NBM employees; determination of the nominal value, design of banknotes and coins, the procedure for their entry into circulation and the conditions for withdrawal from circulation; making proposals to increase the capital of the NBM; approval of the cost estimates and deductions of the National Bank for investments and monitoring their implementation, etc.// 04.08.2023 - InfoMarket.
