MOLDOVA INTERESTED IN LUXEMBOURG EXPERIENCE IN BANKING SECTOR SUPERVISING

Moldovan Minister of Foreign Affairs and European Integration Tudor Ulianovschi met with representatives of the Luxembourg Bankers' Association, the Financial Sector Supervisory Commission, as well as the Luxembourg International Investment Funds Association on Monday.

According to the Moldovan Ministry, he informed his interlocutors about the actions made by the Moldovan Government on strengthening the country banking system which will be implemented in the nearest time, as well as about development projects.

"We are interested in strengthening and raising the banking sector transparency, improvement of normative framework and in this field the Luxembourg's experience is valuable for harmonizing the national legislation with EU best practices", Ulianovschi said.

According to the ministry's press release, the Luxembourg Bankers' Association welcomed the reforms, implemented by the Moldovan Government for strengthening the supervisory and regulatory basis in the banking sector, which led to the attraction of foreign investors to Moldovan banks.

According to the Luxembourg side, this is an important signal for the entire banking sector at the European and international levels and in relation of transparency and rehabilitation of the situation in the Moldova's financial system. The arrival of new banking services and goods to the Moldovan market will have a positive influence on the entire economy and will contribute to raising of the sector competitiveness.

Within discussions, the ways of establishing dialog with the Moldovan supervisory body were discussed for preventing and combating the money laundering and the terrorism financing, ensuring of the financial stability.

At the meeting with Director of the Chamber of Commerce of Luxembourg Carlo Thelen, Ulianovschi told about the conducted reforms for attracting investors to the Moldovan market, especially in the field of infrastructure, energy security and informational technologies.

"We want a more active presence of Luxembourg investors in the national economy and intend to organize Moldova-Luxembourg economic forum to familiarize Luxembourg business people with our country's investment possibilities", the Moldovan minister said.