Peculiarities of Banking Organization 00 - Belobrov Angela

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1. Banking system in Moldova 2. Licensing banks 3. Expansion of banks in the territory 1. Banking system in Moldova Moldova has maintained an efficient, two-levelled banking system since 1993, consisting of the National Bank of Moldova (NBM) and commercial banks. The Moldovan banking sector is considered to be one of the strongest among the CIS-7countries. The National Bank of Moldova was established in 1991, and modelled according to the Central Bank of Romania. It is an autonomous legal entity, subordinated only to the country's parliament. The functions of the central bank are:  The Formation of monetary and foreign exchange policy, as guided by the Bank's own economic analysis;  To act as banker and fiscal agent of the Republic of Moldova;  To license, supervise and regulate the activity of financial institutions. Banking supervision in Moldova is completely in line with Basle Committee standards;  To act as banker to the banks, providing them with credit facilities;  To supervise and facilitate the payments system;  To be the sole issuer of currency;  To hold and manage foreign exchange reserves;  To settle the country's balance of payments. ...