News

Data about the Activity of Moldovan Commercial Banks on July 31, 2025Dr. Sándor Csány: Being the 4th largest, OTP in Moldova will grow both organically as well as through possible mergers and acquisitions It seems to be a place, but it is notScott HOCKLANDER: For me, the persistence of Moldovan citizens is not only a learned lesson, but also a great exampleSorin MASLO: "The year 2022 was a turning point for the "Cricova" Wine Combine, the turnover increased by almost 25%"Deposit rates are at their peak. Market conjuncture or Why banks need individuals’ depositsValeriu LAZĂR: "If the state does not support business today, tomorrow it will have no one to collect taxes from.Chisinau Airport as a reflection of statehoodMonetary measures against non-monetary inflationBanks as the fulcrum of the economy: they have increased profits and are preparing for the challenges of the 2H 2022The Ministry of Finance and investors in the State Securities market at the peak of placement volumesThe banking market: turmoil and increased demand. No panicIs Moldova ready for the economic consequences of the war in the neighboring country?Are we heading for hyperinflation? It all depends on the correct diagnosis and the prescribed treatmentWhat is happening in the Government Securities Market and what does the National Bank have to do with it?The wine industry is on the verge of a revolution: Is the industry-specific law bankrupting enterprises? The trap for the oil products marketLászló DIÓSI: Foreign investments come to Moldova due to banking system stabilityWhen there is no program with the IMF, we issue are government securities ...Nikolay BORISSOV: “Acquisition of Moldindconbank is the best procurement in the Moldovan market, albeit the most risky one”Oil Ping Pong GamesBanking 2020 - pandemic, profitableWeird 2020: humility, depression, rebellion, accepting a new realityThe Hunger Games of the foreign exchange marketHow to tame liquidity?Veaceslav IONITA: The government killed the business, but flirted with the populationPeople and Business: Natural and Unnatural SelectionAlexandru BURDEINII: Being ethical becomes vital in business nowadaysMoldova’s Key Macroeconomic IndicatorsPrices at filling stations

Moldova to introduce new consumer protection rules in line with the high standards of the European Union.

Moldova to introduce new consumer protection rules in line with the high standards of the European Union.

In particular, this is envisaged by the amendments to the Law on Consumer Protection, which were approved by the government. According to the Ministry of Economic Development and Digitalization, the consumer protection legislation will be improved in order to get closer to the EU legislation, so that Moldovan consumers have similar rights when buying goods and services. Deputy Prime Minister, Economic Development and Digitalization Minister Dumitru Alaiba specified that 4 EU directives will be transposed into the Moldovan legislation, in order to adjust the domestic norms to the EU practice. In particular, it is about the simplification of dispute resolution. Consumers will have the possibility to use an alternative dispute resolution body to settle disputes with sellers instead of directly participating in a costly and lengthy judicial process. These procedures will become faster and more accessible. In addition, there is the matter of extending the time limit for filing complaints. Specifically, the period within which consumers can report problems with their products will be extended from 6 months to 1 year. This will apply to a situation where a product does not meet expectations, but is not strictly related to compliance status. In addition, there will be more clarity in contracts. The conditions under which contracts can be terminated will be revised, especially for long-life second-hand goods and goods with digital components. The seller's liability for non-conforming products will also be clarified. Alongside this, measures will be put in place to better combat fraudulent commercial practices. "We will investigate and regulate unfair practices that harm consumers, such as fake reviews or fraudulent promotions on social media. Consumers will be better protected. We will strengthen consumer protection and increase their trust in e-commerce by making it easier for them to access high quality digital products and services without putting them at risk," said Dumitru Alaiba. The Ministry of Economic Development and Digitalization said that the amendments to the Law on Consumer Protection, approved by the Cabinet of Ministers, will strengthen mechanisms to protect the rights and economic interests of consumers. Mechanisms of legal protection in case of non-compliance of products/services will be developed and strengthened, mechanisms of cooperation between the competent authorities in the field of consumer protection and mechanisms of extrajudicial settlement of disputes in the field of consumer protection will be introduced. One aspect of the amendments to the law concerns the creation of a mechanism for alternative dispute resolution in the field of consumer protection. Thus, in case of violation of their rights, the consumer will be able to appeal to the supervisory authorities in the field of consumer protection or to an alternative dispute resolution body. This mechanism will ensure the existence of quality out-of-court procedures, less time-consuming and free of charge or at a lower cost than judicial procedures. The new proposal for the sale of goods introduces a new subjective compliance criterion: the provision of updates according to the provisions of the sales contract, in the case of goods with digital elements. Essentially, the seller will be obliged to provide updates to the digital content or digital service integrated into the goods sold. Commercial warranty will be defined as "any obligation of the seller or manufacturer to the consumer to refund the price paid or to replace, repair or service the goods in any manner whatsoever if they do not meet the specifications or any other requirements that are not related to compliance", and the period provided for the detection of non-compliance is increased from 6 months to 1 year. In addition, aspects related to proportional price reduction or contract termination will be regulated. For example, the terms and conditions for termination of contracts; warranties for used durable products and products with digital content will be revised. The seller's obligations in case of sale of non-conforming products will also be revised. The list of unfair commercial practices towards consumers will be expanded to avoid false reviews and recommendations by some consumers on social communication platforms to promote certain products. // 20.09.2023 – InfoMarket

News on the subject