The National Bank of Moldova has set its banking supervision priorities for 2022. These include credit risk, internal governance, risk management and, internal capital adequacy assessment process (ICAAP), internal liquidity adequacy assessment process (ILAAP), risks associated with information and communication technologies (ICT), fight against money laundering and terror financing, and he risks associated with the use of payment systems, the NBM said in a press release.

“Our priorities include a wide range of actions that will ensure the continuity of the reforms initiated in the past years and will inevitably lead to an even greater strengthening of the banking system. It is crucial that we continue these processes for the benefit of the development of our country and our citizens”, NBM Governor Octavian Armașu was quoted as saying.

The NBM aims to further align the Moldovan banking sector with European and international requirements and practices that will lead to the permanent consolidation of the banking sector. In order to protect the interests of depositors, as well as to ensure the stability and viability of the banking system, the central bank performs “prudential supervision of banks in the Republic of Moldova, seeking compliance with legal requirements to prevent and limit risks specific to banking activities,” reads the press release.