Economy

03 March, 2026 / 10:45

/ 27 November, 2025

Passed in first reading: appointment procedure for NBM governing bodies to be changed

The procedure for appointing members of the governing bodies of the National Bank of Moldova (NBM) is set to be changed. A draft law to this effect was approved in the first reading by the vote of 54 MPs.

The legislative initiative was set up by the NBM under the aegis of the International Monetary Fund and promoted by the Ministry of Finance, aiming to strengthen the guarantees regarding the independence of the central bank's governing bodies.

According to the draft, the process of appointing members of the governing bodies will require consultation with the President of the Parliament, the Governor of the NBM, or the Economy, Budget and Finance Committee, depending on the position. Candidates will be evaluated through an opinion that will be heard in plenary before the final vote.

Additionally, the draft grants the right for members of the Executive Committee to be heard in case of revocation, excludes the deputy governor from the Supervisory Board (to avoid function overlap), and increases the number of independent members in the council from four to five. The terms of Supervisory Board members who are not part of the Executive Committee will be reduced from seven to five years.

Other provisions relate to the conduct of Supervisory Board meetings, its responsibilities, and the mandatory reserve regime.

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