Moldova signs application to join Single Euro Payments Area

Chisinau, Jan 30. /MOLDPRES/- Governor of the National Bank of Moldova (BNM) Anca Dragu signed today application for the accession of the Republic of Moldova to the Single Euro Payments Area (SEPA). The initiative will result in the provision of cashless payments in euros, to and from the European space, offering safer, faster and more convenient solutions for Moldovan citizens.

"It is a historic day for the Republic of Moldova. It is the day when we have a clear statement of the desire to be part of the European systems, the single payment system in Europe. The decision reveals our commitment and the contribution of the BNM in this European path and represents an important moment for the Moldovan economy, all participants in economic circuits, companies, citizens, state", said Anca Dragu.

The BNM governor said that joining SEPA has several benefits. "The first benefit is that of costs. It is to the advantage of all participants to have fast, transparent, secure payments, but also at a sustainable price. With this system, a payment could be made within 24 hours and instead of paying 20 - 50 euros per transaction, we will be able to pay only 1 - 3 euros. It is a huge step for all those who participate in the economic system. I think this will be good news for all Moldovans who live and work abroad and transfer remittances to relatives in the country. It is a system that ensures the efficiency of payments, standardization and transparency of processes, facilitates cross-border transactions and stimulates trade", the BNM head said.

The application for membership was signed in the presence of the management of the licensed banks in our country. President of the Moldovan Banks Association Dorel Noroc said that for citizens and companies, SEPA means convenience, speed and minimal costs.

Moldova's joining SEPA represents an exercise of national importance and an essential country project in the context of Moldova's accession to the European Union, being implemented with the support of the Twinning Project Strengthening supervision, corporate governance and risk management in the financial sector of Moldova, funded by European union.