Moldovan MPs make amendments to currency legislation

Chisinau, 14 April /MOLDPRES/ - The draft on amendment of the Law on the National Bank of Moldova (BNM) and the Law on currency regulation was approved by the parliament in the first reading today.   

The document was worked out, in order to carry out the provisions of the national action plan for the implementation of the Moldova – European Union Association Agreement.   

One of the draft’s proposals regard the compulsoriness of supervising the currency exchanges and video recording during the entire working schedule in real regime, as well as the preservation of these recordings in digital format for at least 15 calendar days. These amendments are aimed at improving the servicing of exchange desks’ clients, in the context of ensuring the security and integrity of these units.     

Additionally, the exchange desks will be obliged to record each currency exchange operation in cash with private people at the moment of making it in the forms of the documents established by the National Bank of Moldova (BNM). Another requirement is not to allow divergences between the value of the operations registered and the balances of the working capital, held inside the currency exchange units.  

Another provision consists in the increase in the quantum of the fine imposed to exchange desks or hotels, which allow infringements of the currency legislation, from 25,000 lei up to 100,000 lei. The goal of these amendments is to enhance the degree of discipline in the concerned sector and the safety of the currency exchange operations.  

The draft also sees the increase in the term of taking the decision by BNM for the licencing of the exchange desks and hotels – from 15 to 30 days.

Photo: Parliament