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Basic tasks of the National Bank of Moldova in the area of international relations

 

The National Bank of Moldova (NBM) performs its basic tasks in the field of international relations based on the Law on the National Bank of Moldova No. 548 XIII of 21 July 1995 [1], other normative acts of the Republic of Moldova and in accordance with international treaties to which the Republic of Moldova is part.

Therefore, the National Bank of Moldova:

  • represents the Republic of Moldova in intergovernmental meetings, councils and organizations on monetary policy matters, banking activity licensing and supervision, on banking inspection matters and other matters that are within its field of competence.
  • may conclude cooperation and exchange of information agreements with  the authorities from other countries that are empowered with competences with regard to regulation and supervision of the financial and banking sector from other states;
  •  may provide banking services to foreign governmental, financial and banking institutions and to public international organizations in which the National Bank or the Republic of Moldova participates;
  • may participate in international organizations that pursue financial and economic stability and/or other objectives related to the National Bank's powers and may cooperate or conclude collaboration agreements with the respective organizations;
  • exercises rights and fulfills obligations that lie with the Republic of Moldova as a member of the International Monetary Fund (IMF), including those related to the use of IMF facilities, in the medium and long term, for the balance of payments needs and the strengthening of the state's international reserves;
  • within its powers, as an agent of the state, it may undertake obligations and perform transactions concerning  the participation of the Republic of Moldova in international organizations.

Alignment with the European Union (EU) standards and international cooperation is a desideratum of the NBM being transversally found in all seven strategic objectives included in the Strategic Plan of the National Bank of Moldova "NBM 2025" [2], approved by the Decision of the Executive Committee of the NBM No. 19 of 26 January 2023.

 


Source URL:http://bnm.md/en/content/basic-tasks-national-bank-moldova-area-international-relations

Related links:
[1] http://bnm.md/en/content/law-national-bank-moldova-no548-xiii-july-21-1995 [2] http://bnm.md/en/content/strategic-plan-national-bank-moldova-bnm-2025