The National Bank of Moldova (NBM) from July 1 will take over some of the powers of the CNPF concerning the regulation of activities in the areas of insurance, reinsurance and non-banking lending.
As noted in the message of the National Bank, in particular, it concerns the powers relating to licensing, regulation and supervision of the activities of insurers, reinsurers and intermediaries in these areas, as well as the National Bureau of Motor Insurers of Moldova. Besides, the National Bank will supervise the activity of savings and loan associations, credit history bureaus and non-banking credit organizations. So far, these functions have been performed by the National Financial Market Commission. The main tasks of the supervision are to protect rights and interests of beneficiaries of financial services and to ensure stability of the insurance system in Moldova. On this occasion the NBM published a series of "questions and answers" which are addressed both to participants of these markets and to clients. From this publication it is possible to find out more information about the taking over of the CNPF duties by the National Bank, from which date the NBM will become the supervisory body in these fields, what will happen from July 1, and how consumers will be protected. // 30.06.2023 – InfoMarket
