Governor of National Bank of Moldova says strengthening country's financial integration into European architecture major priority for central bank

The prospects for cooperation between Moldova and European institutions in the field of financial services, stability of the financial, banking and non-banking sector, and integration into the European Union's financial market have been discussed at a meeting between Governor of the National Bank of Moldova (BNM) Anca Dragu and European Commissioner for Financial Services and the Union of Economies and Investments Maria Luís Albuquerque.

The participants in the meeting discussed aspects concerning the equivalence of Moldova's banking prudential framework with the EU's, according to the methodology of the European Banking Authority (EBA), as well as the progress made by the BNM in the process of operational connection to the Single Euro Payments Area (SEPA).

According to the BNM governor, strengthening the financial integration of Moldova into the European architecture is a major priority for the central bank.

"Through reforms, rigorous supervision and modernization of the regulatory framework, we continue to strengthen the financial system, in order to provide even more stability, transparency and trust. The integration into SEPA, which will become operational soon, represents a historic moment and an opportunity for citizens and the business environment to benefit from fast, secure and low-cost payment services," said Governor Anca Dragu.

The meeting fit into Moldova's EU accession process context, in which the National Bank plays an active role in negotiating the integration, being a leader in three essential fields: free movement of capital, financial services and economic and monetary policy.