The National Bank of Moldova will be administered by an Executive Committee consisting of five members designated by Parliament. A bill to this effect was approved by the Government. Currently, the central bank is managed by the Administration Board, Info-Prim Neo reports. Under the approved changes, the National Bank will have a Supervisory Council that will be responsible for implementing an efficient system for ensuring the independent public supervision of the institution. The Supervisory Council will be composed of seven members named by the legislative body. Prime Minister Vlad Filat stressed the necessity of including a representative of the Government in the Council given that the executive is the founder of the central bank. The National Bank will also have new prerogatives concerning the supervision of the system of payments and promotion of the automated interbank payment system and the licensing, regulation and supervision of the payment and issuing of the electronic coin services.