The central banks of Moldova and Belgium discussed expanding cooperation and further aligning financial regulation with European standards. The talks focused on progress in reforming the banking sector, strengthening the central bank's independence, and the initial results of the country's integration into the European payment infrastructure.
"The success of investors operating in Moldova is the best way to attract new investment," said Vasile Tofan
The central banks of Moldova and Bulgaria have agreed to expand their cooperation as Chișinău moves toward aligning with European financial standards. The talks focused on reforms, the modernization of payment infrastructure, and Bulgaria's practical experience in the process of European integration, which could be useful for the Moldovan regulator's next steps.
In their first year of participating in the SEPA system, Moldovan citizens and companies saved approximately 16.4 million euros due to lower fees, and the average cost of a transfer in euros dropped to about 1 euro, although transaction fees had previously ranged from 20 to 150 euros - BNM
Moldova intends to accelerate the alignment of its regulations in the areas of payment services, foreign exchange transactions, and financial supervision with European standards as part of its EU accession negotiations. Authorities have already noted a number of changes that have been implemented, but key steps still lie ahead that could significantly impact the operations of banks, businesses, and the capital market.
The National Bank of Moldova stated that the banking sector remains stable and highly capitalized, and that negotiations on aligning with European prudential standards are progressing. The regulator also noted that the modernization of the payment infrastructure is already changing conditions for customers and businesses, though the key details and implications of these steps will only become clear from the full version of the report.
The National Bank of Moldova is promoting reforms that accelerate the country's integration into the European financial area and transform approaches to payment infrastructure. Discussions are centered on further regulatory harmonization, the development of modern payment services, and cooperation with European partners—details of which could prove significant for the banking sector and the market as a whole.
After one year of operating within the Single Euro Payments Area (SEPA), Moldova has seen a noticeable impact on citizens and businesses: transfers in euros have become faster and significantly cheaper, and SEPA has quickly become the primary channel for cross-border payments. The National Bank notes that the new payment infrastructure has already altered established financial flows and strengthened the country's integration with the European market.
The EU-supported Economic Growth Plan for Moldova aims to stimulate investment, increase productivity, and accelerate reforms, and the funds allocated by the EU must be channeled efficiently into the real sector of the economy while maintaining financial stability—NBM
Moldova's banking sector remains highly resilient amid growing lending and ongoing adaptation to European standards, the National Bank stated. The regulator also noted that the reforms are already having a tangible impact on citizens and businesses, including in the area of payments and money transfers.
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