The National Bank of Moldova is ready for a constructive dialogue with the private sector to create an inclusive and safe financial sector – NBM
This was stated by the First Vice President of the National Bank of Moldova Petru Rotaru at a meeting with representatives of the business community within the American Chamber of Commerce in Moldova (AmCham). According to the National Bank, during the discussions he emphasized that ensuring equal access to financial services remains one of the priorities of the NBM as part of its mission to support sustainable economic development. In this regard, Petru Rotaru emphasized the importance of ongoing cooperation between the regulator and the business community to find effective solutions adapted to the realities of the market. An important item on the agenda was the prevention and combating of money laundering and terrorist financing. The First Vice President of the NBM noted that measures in this area are comprehensive and are constantly being improved, emphasizing the need to implement modern technologies, such as electronic customer identification (eKYC – electronic Know Your Customer), as well as ongoing training of the personnel involved. These efforts contribute to both strengthening the integrity of the financial system and ensuring fast and secure access of clients to banking services. Petru Rotaru stressed the importance of having a constant exchange of information in order to create best practices and understand existing phenomena. "This way, we will develop a common vision of processes and the ability to act and find optimal solutions for the business environment and its clients," he said, praising the openness of the business environment towards rules aimed at ensuring a balance between innovation, security and accessibility. At the same time, the First Vice President of the NBM expressed the National Bank's readiness to constantly assess the functionality of the regulatory framework in cooperation with all stakeholders. According to him, this approach reflects a modern vision of financial sector management, in which regulation evolves in line with market needs and technological progress. During the discussions, the issue of expanding the powers of the National Bank with the transfer of the functions of supervision over non-bank lending and insurance to it from July 1, 2023 was also discussed. The NBM is thus strengthening its role as a supervisor for a wider range of financial institutions to ensure uniform standards of prudence and transparency. Participants in the discussions welcomed the NBM’s willingness to work in partnership with new supervised sectors, noting that a clear and functional regulatory framework developed in a participatory manner will benefit both the financial industry and consumers. // 16.04.2025 — InfoMarket
