The National Bank of Moldova will have new remuneration regulations. When presenting the report of the Bank’s Supervisory Board in a meeting of the expert parliamentary commission, central bank governor Sergiu Cioclea said the new regulations will be worked out on the recommendation of the Audit Committee, IPN reports.

According to the governor, the salary at the National Bank should be equal to the market pay grades or to the pay of employees of commercial banks or the best specialists will defect from the Bank to the private sector. About 40 employees left earlier and five more so far this year.

Sergiu Cioclea noted the appropriate size of the salary will be determined based on a study that will be carried out by an independent company with experience in the field. This will use the relevant data from 26 countries where such studies were conducted.

“At the first salary reform stage, the different salary bonuses, increments and other recompenses set in 2016 were excluded. To ensure greater transparency, we decided that there will be a single payment. Bonuses will be provided in rare cases, for special accomplishments in the job, for performance,” stated the governor.

In this connection, the head of the legislature’s commission on economy, budget and finance Stefan Creanga voiced hope that the new remuneration regulations of the National Bank will be finalized by the end of June, when the institution is to present its progress report in Parliament.