Some of the approvals of the National Bank of Moldova (NBM) will be issued electronically. The Executive Board of the NBM approved amendments to the regulations concerning the shareholdings in banks and the regulations on the requirements concerning the members of the bank’s administrative board managers of a foreign bank branch, persons who hold key posts and the liquidator of a bank under liquidation, IPN reports.

In a press release, the NBM says the changes refer to the method of obtaining the approvals of the NBM for purchasing shares in another bank and the appointment by the bank of the members of the administrative board, managers of foreign bank branches and persons who hold key posts. For submitting the documents needed for obtaining the approvals electronically, the applicants should have a public key certificate and should register through the agency of the NBM’s portal as a user.

The possibility of obtaining the approvals of the NBM electronically reduces costs, efforts and the allotted time and optimizes the process for the applicant and for the bank. This method will also make the process more environmentally friendly and will ensure measures for the protection of the health of applicants and employees of the NBM in the current times of pandemic.