NATIONAL COMMISSION FOR FINANCIAL MARKETS REPUBLIC OF MOLDOVA
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The IMF Team Have Discussed with the NCFM the Progress Achieved in the Implementation of the IMF-Supported Program

  • 26.04.2024
  • 839

The management of the National Financial Market Commission (NCFM) met on Thursday, April 25, with the International Monetary Fund (IMF) mission team led by Clara Mira.

The IMF mission is visiting Chisinau during April 22 – May 2 in the context of the fifth review of the program supported through the Extended Fund Facility (ECF) and Extended Fund Facility (EFF) and the first review of the program supported through the Resilience and Sustainability Facility (RSF).

At the meeting, the NCFM have shared the latest developments and progress achieved in the development of the capital market, including amendments to the legislative and regulatory framework in the area of joint stock companies and shareholder rights. In this context, the IMF team were informed about the development and promotion of the regulations necessary to implement the Law on Participatory Financing Services (Crowdfunding), as well as the approval of the establishment of the first voluntary pension fund management company in the Republic of Moldova and the authorization of the first investment consulting company. Another topic was the progress achieved in the development of the Capital Market Development Strategy for 2025-2028.

The NCFM also informed the IMF of the need to further develop the regulatory framework for financial services consumer protection.

Another topic discussed was the implementation of the amendments to the Law on the Single Central Securities Depository and the assignment of regulatory and supervisory powers to the CNPF.

The IMF experts expressed their openness to collaboration and support for measures for financial market development, including in the area of financial consumer protection and financial inclusion.

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