Moldovan banking sector’s activity according to European rules will increase the European investors’ interest in it, will enhance competition in the banking sector and the quality of banking services as well as security of transactions - Anca Dragu said
This was stated by the Governor of the National Bank of Moldova (NBM) at a meeting with the head of the EU delegation in Chisinau, Janis Mazeiks. According to the NBM, during the meeting they discussed issues related to Moldova's financial and banking sector, the progress made in the process of accession to the Single Euro Payment System (SEPA), as well as the main conclusions and recommendations of the EU Enlargement Report 2024 regarding Moldova and the actions aimed at meeting the EU accession criteria. “These discussions reflect the National Bank of Moldova's strong commitment to strengthening Moldova's European path. By adopting the EU rules, Moldova's banking sector will operate according to the European rules, which will increase the interest in the domestic banking market for European investors, increase competition in the sector, improve the quality of banking services and security of transactions, as well as benefits for citizens,” Anca Dragu said. She specified that representatives of the NBM and other Moldovan institutions have recently participated in bilateral screening sessions. This is a stage of the EU accession negotiations, during which Moldova informed the European Commission about the current level of compliance of the regulatory and institutional framework with the EU principles, regulations and standards, the current administrative capacity, as well as the subsequent plans to transpose and fully implement the entire European legislation. At the same time, the head of the National Bank expressed hope that the prospects of cooperation with the EU will be extended in many directions: improvement of the supervisory and normative framework of the banking and non-banking sector, banking resolution, research area and others. The NBM notes that the preparation of the dossier on Moldova's accession to the Single Euro Payments Area, which was submitted for evaluation to the European Payments Council on January 30, 2024, was carried out with the support of the EU-funded Twinning project “Strengthening supervision, corporate governance and risk management in the financial sector of the Republic of Moldova”, in which the National Bank of Moldova participated from October 2021 to April 2024. // 18.11.2024 - InfoMarket.
