A seminar on strengthening corporate governance in the banking sector attracts a large audience
The National Bank of Moldova (NBM) and the EU-funded project “Moldova is Europe – Support for EU Integration,” organized a seminar on strengthening corporate governance in the banking sector. The event was attended by more than 70 representatives of bank management.
The main lesson was the need to develop and implement policies and procedures regarding the assessment of the suitability of members of the management body and key function holders in banking institutions in the Republic of Moldova.
In her intervention, Anca Dragu, Governor of the National Bank of Moldova, emphasized the importance of compliance with the highest standards: “Strong corporate governance represents an essential pillar for the stability and credibility of the financial system. By applying European standards, we ensure the prudent management of banking institutions and, implicitly, protect the interests of depositors and the economy.”
During the event, the importance of clear evaluation criteria such as honesty, integrity, and independence of mind, was emphasized, as well as the collective experience and competencies of the management board.
The EU High Level Adviser on Financial Services, Nicolae Grigore, presented best supervisory practices from the European System of Financial Supervision, highlighting the need to allocate adequate human and financial resources for the onboarding and ongoing training of management body members and key function holders.
The seminar placed particular emphasis on the provisions of EU Directive 2013/36/EU on access to the activity of credit institutions and the prudential supervision of credit institutions and investment firms, as well as the European Banking Authority’s & European Securities and Markets Authority Guidelines on internal governance.
The event provided a framework for constructive dialogue between the NBM and representatives of the banking sector, contributing to the strengthening of transparency and accountability. This effort is essential in preparing the Moldovan banking system for full integration into the European Union.
