Financial System Authorities and Their Responsibilities
Automatically translated summary. The full text is available in Romanian.
This informative note, produced under the National Financial Education Campaign run by the National Bank of Moldova and Expert-Grup, explains what a financial system is and describes the roles of the main Moldovan financial authorities: the National Bank of Moldova, the National Financial Market Commission and the Anti-Money Laundering Service.
The National Bank of Moldova's fundamental objective is price stability, pursued through an inflation target of 5% with a possible deviation of ±1.5%. It also issues banknotes and coins, acts as the state's agent in placing government securities without lending to the state directly, regulates foreign exchange operations, sets the official exchange rate, manages foreign exchange reserves and chairs the National Financial Stability Committee.
The National Financial Market Commission, an autonomous authority, sets rules for and supervises the capital market, manages the Investor Compensation Fund and protects consumers of financial services. The Anti-Money Laundering Service shields the financial system from money laundering and terrorism financing, checks suspicious transactions and passes its findings to criminal investigation units. Together, these authorities create an environment for safe payments, investment, borrowing and saving.
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