In Moldova, the level of bank deposit coverage will be increased from 100 thousand to 200 thousand lei from January 1, 2025
This was announced by the Deposit Guarantee Fund in the Banking System, noting that this measure is aimed at increasing the protection of citizens' savings and strengthening trust in the banking system of Moldova. The Director General of the Deposit Guarantee Fund in the Banking System Dionis Catanoi noted that this increase in the level of bank deposit coverage ensures a greater degree of security for citizens' savings and represents an important step in the modernization of the guarantee system. "In addition, we are initiating a broad information campaign to inform the public about these changes and the benefits for depositors," he said. The coverage level is applied separately for each depositor and for each bank, which means that the guaranteed amount of 200 thousand lei is insured separately for deposits held in each banking institution. Such an increase meets the needs of the local market and helps increase the population's trust in the national banking system. At the same time, measures are being taken to gradually bring the deposit coverage level in line with the EU standards, taking into account the economic and financial specifics of Moldova. The information campaign launched by the Deposit Guarantee Fund in the Banking System aims to provide clear and transparent information to the general public, thus ensuring a better understanding of the benefits of increasing the deposit coverage level. The Deposit Guarantee Fund in the Banking System was established as a public legal entity on 1 July 2004 with the purpose of guaranteeing deposits placed in banks, protecting the interests of depositors and promoting the stability of the financial system of Moldova. The Deposit Guarantee Fund in the Banking System manages the Bank Deposit Coverage Fund and the Bank Resolution Fund. The Bank Deposit Coverage Fund guarantees deposits of individuals and legal entities, both residents and non-residents, in national and foreign currency in all member institutions. Thus, in case of unavailability of bank deposits, the Deposit Guarantee Fund in the Banking System guarantees their compensation to each depositor within the coverage level. Any bank that has a license from the National Bank to operate in the field of deposit attraction becomes a mandatory member of the Bank Deposit Coverage Fund from the date the decision to issue the license comes into force.//26.11.2024 – InfoMarket.
