The National Bank of Moldova (NBM) organised two working meetings this week with representatives from the savings and lending associations (SLA) sector, attended by representatives from most of the licensed entities. The meetings took place in the context of the central bank’s commitment to maintaining a constant, open, and transparent dialogue with financial market participants.
During the meetings, NBM representatives presented the supervision and control process, the main findings, as well as the obligations arising from recent changes to the regulatory framework applicable to the activities of these associations. The data presented provided an overview of the size and role of the sector within the financial system, contributing to a better understanding of the existing opportunities.
A separate topic of discussion concerned the implementation of legislative amendments regarding the protection of financial services consumers’ rights, including the clarification of criteria distinguishing between consumer and professional status for individual members of savings and lending associations.
Furthermore, the general directions regarding the need to strengthen the SLA sector were presented, along with the indicative stages of the regulatory framework reform process. NBM representatives emphasised that this process aims to ensure the sustainable development of the sector, improve operational capacity, and strengthen the depositor protection framework, being designed as a gradual and predictable process.
The NBM representatives stressed the importance of an open dialogue with financial market participants and support for the modernisation of the financial sector within the context of European integration, through clear and predictable communication.
For their part, the participants appreciated the NBM’s openness to dialogue and the clarifications provided, expressing their willingness to actively engage in the consultation process for future legislative initiatives.
The National Bank continues to promote decision-making transparency and public consultation, encouraging the involvement of all stakeholders in the process of modernising and strengthening the financial sector, for the benefit of financial stability and the financial inclusion of the population.