The governor of the National Bank of Moldova Octavian Armașu said that together with the technological processes and the wider use of financial services in the online environment, it is essential for the national payment system to meet the challenges and to offer a higher level of cybersecurity and efficiency. The security of digital payments and the alignment of the Republic of Moldova with the EU standards were discussed in an event staged by the National Bank of Moldova, IPN reports.

“I want to note with pride the results achieved due to the EU-funded Twinning project “Strengthening supervision, corporate governance and risk management in the financial sector of the Republic of Moldova”. With the support and valuable expertise of the partners of the project, we made significant progress in having the new regulatory framework for monitoring the infrastructure of the financial market and payment services adopted,” stated the governor.

Through the launched projects and initiatives, the central bank aims to offer society a system of payments with modern infrastructure and modern payment instruments that meet the needs of individual and corporate consumers of payment services.

“The security of digital payments is one of the essential requirements for joining the SEPA Zone that is an important step towards the opening of borders to a maker of payments without barriers, which comes to bring payments in euros to and from the EU to the citizens of the Republic of Moldova,” said Octavian Armașu.  

Among the issues discussed in the conference were the new requirements in the ICT sector, adjusted to the European practices and standards, the good practices in fighting social engineering attacks, digitization and competition in the financial sector, support for legal and infrastructure reforms.
 
The event was organized in the framework of the Twinning project “Strengthening supervision, corporate governance and risk management in the financial sector of the Republic of Moldova” which is funded by the European Union.