DOC // Currency operations to be simplified

The value thresholds for carrying out certain foreign exchange operations without authorization from the National Bank of Moldova (NBM) will be gradually increased from EUR 10,000 to EUR 100,000, and from January 1, 2028, to EUR 250,000. The provisions are included in Law No. 226 of September 24, 2026, amending the Law on Foreign Exchange Regulation, published in the Official Journal.

The document aims to gradually liberalize foreign exchange operations and adapt the financial sector to European requirements. The process will take place in two stages, before the full liberalization planned for the time when the Republic of Moldova joins the European Union.

The law eliminates the authorization requirement for residents purchasing foreign financial instruments as part of their admission to the capital and money markets in the Republic of Moldova. It also expands the list of operations that may be carried out without authorization, including certain credits and loans granted to non-residents by investment companies, non-bank lending organizations, and insurance and reinsurance companies.

Starting October 1, 2027, the notification and registration requirements with the NBM will be eliminated for certain external loans and credits received by residents.

The new provisions will allow resident individuals who emigrate to open accounts abroad and transfer assets when establishing their residence or during their stay outside the country. The use of foreign currency will also be permitted in commercial establishments at airports, on board aircraft, and at international border-crossing points.

The amendments also concern the operations of foreign exchange offices. They will be able to provide payment services and distribute or redeem electronic money if they are registered as agents of licensed payment companies or electronic money institutions.

At the same time, the law strengthens the NBM's powers in the areas of authorization, supervision, and sanctions. The institution will be able to refuse authorization for an operation that poses risks related to the implementation of international sanctions or the termination of correspondent banking relationships.

Foreign exchange offices will also be required to submit information on their annual financial statements to the NBM.