The European Union has launched a new Twinning Project in the field of prudential regulation and supervision of the non-banking financial market in Moldova. The project is financed by the European Union to the tune of €1,3 million.
According to a press release of the EU Delegation to Moldova, the Twinning Project “Development and consolidation of the National Commission for Financial Markets’ operational and institutional capacities in the field of prudential regulation and supervision” will be implemented by the Polish Financial Supervision Authority (KNF) to the benefit of the National Commission for Financial Markets (NCFM).
The Polish and Moldovan partners, with the EU financial support, will work together to develop an effective regulatory and supervisory framework in Moldova. Experts from the KNF will assist the Moldovan partner in the field of development of the risk-based supervision system for the non-banking financial market participants to ensure the stability and safety of this sector and to enhance its role in the national economy.
The Twinning Project will assist the NCFM in strengthening its operational and institutional capacities to supervise and regulate capital market and investment funds sector, insurance companies sector as well as savings and credit associations (credit unions) and pension funds sector.
