This year, the National Bank of Moldova will continue promoting the digitization of payment services and the modernization of the automated interbank payment system. Efforts will also be focused on implementing instant payments in the near future. The NBM also says that it will ensure supervision of the ICT sector to improve the resilience of banks and ensure adequate protection against cyber threats and attacks.
“The NBM will continue this year to carefully supervise the activity of licensed banks in order to keep them resilient and stable. This in the conditions in which the domestic banking system ended 2023 with good financial results, with the banks maintaining all prudential indicators within the regulated limits”, the NBM said in a press release.
The priorities set for 2024 include corporate governance, credit risk, interest rate risk associated with activities outside the trading portfolio, analysis, assessment and resolution of vulnerabilities in payment and settlement systems, as well as payment services, prevention and combat money laundering and terrorist financing, identification and effective management of the risk associated with information and communication technologies.
In this sense, during 2024, the National Bank will continue to evaluate the assurance of appropriate risk control and the existence of an independent and efficient decision-making process. Also, the NBM will continue the activities of identifying and assessing new risks associated with the evolution of financial technologies and jurisdictions that are considered vulnerable to money laundering activities or evasion of international sanctions. As part of continuous supervision, the evolution of loans granted to individuals will also be monitored, taking into account their growth.
“In 2023, the main concerns of the National Bank of Moldova in the field of banking supervision focused on the effective mitigation of the consequences of the war in Ukraine, as well as those caused by inflation. Thus, despite the negative external factors, the indicators of the banking sector fell within the regulated limits, reflecting, in this way, the resilience of the sector as a result of the reforms carried out in recent years”, the NBM said.
