Moldovan parliament approves Strategy for development of non – banking financial market for 2018 – 2022

Chisinau, 13 July /MOLDPRES/ – The Parliament has approved in its today meeting the Strategy for development of non – banking financial market for 2018 – 2022 and the Action Plan related to its implementation.

The strategy approved today marks the development of non-banking financial market for the next five years and provides for more than 60 measures, stemming from commitments made by Moldova throughout EU Association Agreement. The document focuses on four directions: elaboration and implementation of comprehensive regulatory framework with transposition of provisions of Community legislation; increasing effectiveness of supervision by moving on to overseeing entity activity based on risk prevention and management; raising the level of financial culture of population and increasing consumer confidence; developing and strengthening institutional and operational capacities of National commission of financial market to ensure performance – based governance.

As to achieve Strategy, National commission for financial market will have the mission to strengthen regulatory and supervisory system, to adjust it to international standards and align with good practices within EU directives. It will also ensure financial stability and sustainability by implementing additional instruments to prudential and non – prudential supervision.

Funding of actions under the Strategy will be made from the Commission's budget and technical assistance. The National commission for financial market will provide the Parliament yearly with info on Strategy implementation.

(Reporter A. Zara, editor A. Raileanu)