Moldova will change the licensing rules for credit bureaus, expanding the list of entities required to provide client data
The relevant legislative amendments were discussed at a meeting of state secretaries. The draft proposes amending the Law on Credit Bureaus, including licensing rules. The license fee will remain at 3,250 lei, while a minimum authorized capital requirement of 10 million lei will be introduced (effective two years after the amendments are published). This minimum authorized capital must cover at least 30% of the entity's assets. Some existing licensing requirements for credit bureaus will remain, such as a three-year business plan, a good reputation, a stable financial position, etc. However, more stringent security requirements will be imposed on IT infrastructure and premises. They must meet data storage and protection requirements, and the information systems and software used must comply with the standards established by the supervisory authority. Periodic independent technical audits of bureaus will be required to be conducted annually, rather than every three years. The explanatory note to the draft explains the tightening of requirements for infrastructure, security, and minimum capital in light of the high systemic risks associated with any disruptions in the operations of credit bureaus. The bill's conceptual framework is also clarified. Definitions of terms such as "credit," "source of credit history," "credit history subject," "outsourcing," and "credit history user" have been updated to reflect practices in the financial and non-financial sectors. The concept of "assignee of claims under credit agreements" is introduced—a legal entity or individual entrepreneur who acquires the creditor's rights of claim arising from a credit agreement in the course of commercial activity. It is also proposed to expand the list of entities obligated to provide information to at least one credit bureau. Such data will be provided by issuers of electronic money, payment institutions, and assignees of claims arising from credit agreements. According to the draft, citizens' credit histories will be supplemented with information on guarantees, mortgages, and collateral obligations, as well as an assessment of individual credit risk. Credit bureaus will be able to obtain information on property collateral, budget arrears, and the enforcement of court decisions on monetary obligations through the MConnect platform. The National Bank will be authorized to set credit information quality standards, etc. At the same time, separate provisions on sanctions for violations in the field of credit histories are proposed to be added to the Code of Offenses. Fines for officials will be set at 200-500 c.u, and for legal entities – 300-600 c.u. Moreover, the National Commission on the Financial Market will be responsible for establishing violations related to the sources of credit histories – providers of crowdfunding financing services and assignees of claims arising from loan agreements. The draft law is proposed to be put into effect within six months. After publication, with the exception of the requirements for minimum capital for credit bureaus, they will come into force in two years. According to the National Bank, there are currently four credit bureaus operating in Moldova: Biroul de Credit, InfodebitCredit Report, Via Scope, and Dator Co. // 12.05.2026 — InfoMarket
