• Calling days and hours of the governing body of the National Bank of Moldova for citizens.

  • Sergiu Cioclea, Governor of the National Bank of Moldova

    1st Monday of the month: 14.00-17.00;
    Appointment: +373 22 822 606;

  • Ion Sturzu, Deputy Governor of the National Bank of Moldova

    4th Monday of the month: 14.00-17.00;
    Appointment: +373 22 822 607.

Please, note the requirements for receiving and examining petitions to the National Bank of Moldova !

Details

 

Main navigation BNM

Expand Hide
09.05.2014

Regulation on Foreign Exchange Entities, approved by DCA of the NBM No.53 of March 5, 2009

Note: The translation is unofficial, for information purpose only

Published in the Official Monitor of the Republic of Moldova no.62-64 of 27.03.2009, Art.269

Registered
at Ministry of Justice
of the Republic of Moldova
no. 666 of March 16, 2009

COUNCIL OF ADMINISTRATION
ÂOF THE NATIONAL BANK OF MOLDOVA


DECISION no.53
of March 5, 2009

On the approval of the Regulation on foreign exchange entities

Pursuant to Art.51 and 52 of the Law on the National Bank of Moldova no.548-XIII as of July 21, 1995 (Official Monitor of the Republic of Moldova, 1995, no.56-57, Art.624), with further amendments and completions, provisions of the Law on foreign exchange regulation no.62-XVI as of March 21, 2008 (Official Monitor of the Republic of Moldova, 2008,  no.127-130, Art.496) and Art.10 of the Law on prevention and combating money laundering and terrorism financing no.190-XVI as of July 26, 2007 (Official Monitor of the Republic of Moldova, 2007, no.141-145, Art.597), with further amendments and completions, the Council of Administration of the National Bank of Moldova

DECIDES:

1. To approve the Regulation on foreign exchange entities (see attached).

2. To abrogate:
1) The Regulation no.10018-20 on the organization and functioning on the territory of the Republic of Moldova of foreign exchange offices and foreign exchange bureaus by hotels, approved by the Decision of the Council of Administration of the National Bank of Moldova minutes no.22 of May 6, 1994 (republished in the Official Monitor of the Republic of Moldova, 2003, no.91-96, Art.136), with further amendments and completions, except for:
a) item 4.3.8, which shall be abrogated on April 1, 2009,
b) item 5.11.1, which shall be abrogated on April 7, 2009;
2) The Decision of the Council of Administration of the National Bank of Moldova no.197 of July 16, 1998 “On improvement of currency exchange operations with individuals” (Official Monitor of the Republic of Moldova, 2000, no.19-20, Art.83).

3. Items 4.3.8 and 5.11.1 of the regulation indicated under sub-paragraph 1) item 2 of this Decision shall be applied only by the licensed banks, as follows:
a) item 4.3.8 – until March 31, 2009, inclusive;
b) item 5.11.1 – until April 6,  2009, inclusive.

4. The valid authorizations /licenses for carrying out the currency exchange activity with individuals, issued by the National Bank of Moldova until the Law on foreign exchange regulation no.62-XVI as of March 21, 2008 (Official Monitor of the Republic of Moldova, 2008, no.127-130, Art.496) become effective and that were not updated according to paragraph (3) Art.69 of the mentioned law, shall lose their validity starting with April 8, 2009.

5. The first report according to the provisions of section 2, Chapter VIII of the Regulation indicated under item 1 of this Decision shall be submitted for the reporting period of April 2009.

6. The first information according to the provisions of section 1, Chapter VIII of the Regulation indicated under item 1 of this Decision shall be presented:
a) by the foreign exchange offices and resident legal entities rendering hotel services – for the date of entering into force of the Regulation indicated under item 1 of this Decision;
b) by the licensed banks – for April 1, 2009.

Chairman of the Council of Administration

Leonid TALMACI

Attachment no.1
to the Decision of the Council of Administration
of the National Bank of Moldova
no.53 of March 5, 2009

REGULATION
on foreign exchange entities

Amendeded by:

DCA of the NBM no.233 of October 27, 2011; Official Monitor of the Republic of Moldova no. 227-232 of 23.12.2011, Art.2098.
DCA of the NBM no.143 of June 21, 2012; Official Monitor of the Republic of Moldova no. 166-169 of 10.08.2012, Art.971.
DCA of the NBM no.52 of March 20, 2014; Official Monitor of the Republic of Moldova no. 110-114 of 09.05.2014, Art. 596.

DCA of the NBM no.179 of September 18, 2014 ; Official Monitor of the Republic of Moldova no. 319-324 of  24.10.2014, Art. 1505. 

(preamble excluded by the Decision of the NBM no.233 of 27.10.2011)

 Chapter I. General provisions

1. The Regulation on foreign exchange entities (hereinafter – Regulation) shall use the notions defined in the Law on foreign exchange regulation no.62-XVI as of March 21, 2008 (the Official Monitor of the Republic of Moldova, 2008, no.127-130, Art.496), with further amendments and completions (hereinafter - Law no.62-XVI as of March 21, 2008). Also, for the purpose of this Regulation the following definitions are used:
a) cashier – the employee of the foreign exchange bureau of the licensed bank, of the foreign exchange office (including its branch), of the foreign exchange bureau of the hotel, which performs the currency exchange operations in cash with individuals;
b) authorized copy of the license  – the copy of the foreign exchange office’s license for carrying out the currency exchange activity in cash with individuals, authorized by the National Bank of Moldova according to the provisions of this Regulation;
c) consolidated fiscal documents – documents provided for by the legislation in the field of application of cash control registers, which shall be obtained at the cash control register and contain the aggregate data on the operations performed by using it;
d) premise of the foreign exchange entity – the premise of the foreign exchange bureau of the licensed bank, of the foreign exchange office, of its branch, of the foreign exchange bureau of the hotel where currency exchange operations in cash with individuals shall be performed;
e) license of the National Bank of Moldova (license) – license for carrying out the currency  exchange activity in cash with individuals, issued by the National Bank of Moldova according to the provisions of the Law no.62-XVI as of March 21, 2008 to the foreign exchange office /resident legal entity rendering hotel services (hereinafter - hotel);
f) currency exchange operations in cash with individuals – operations specified in item 82 of thia Regulation;
g) daily programme – weekly schedule that indicates the beginning and the end of each working day, lunch break, rest-days of the week;
g1) politically exposed persons – persons defined so by the Law on prevention and combating money laundering and terirism finansing no.190-XVI as of July 26, 2007;
h) individuals – resident and non-resident individuals specified in item a) subparagraph 9) and item a) subparagraph 10) Art.3 of the Law no.62-XVI as of March 21, 2008;
i) working hours (working day) – hours of the business day during which the foreign exchange bureau of the licensed bank, the foreign exchange office, its branch, the foreign exchange bureau of the hotel performs currency exchange operations in cash with individuals;
j) working day of the cashier – hours of the working day of the foreign exchange bureau of the licensed bank, of the foreign exchange office, of its branch, of the foreign exchange bureau of the hotel during which a certain cashier performs currency exchange operations in cash with individuals;
k) foreign exchange bureau of the licensed bank – the totality of operational windows opened at the same address (within the head office, branch or secondary office of the licensed bank), through which the licensed bank performs currency exchange operations in cash with individuals;
l) foreign exchange bureau of the hotel – the pay desk within the hotel premise through which operations of purchasing cash in foreign currency /traveller’s cheques in foreign currency from individuals shall be performed;
m) applicant – resident legal entity, which submits to the National Bank of Moldova the application and the documents necessary to obtain the license /authorized copy of the license and to carry out other procedures within the licensing process regulated by the Law no.62-XVI as of March 21, 2008;
n) license holder – the foreign exchange office or the hotel holding the license of the National Bank of Moldova;
o) foreign exchange entities – residents specified in paragraph (2) Art.41 of the Law no.62-XVI as of  March 21, 2008.
(item 1 modified by the Decision of the NBM no.233 of 27.10.2011)

2. This Regulation establishes the following:
a) the peculiarities of licensing the currency exchange activity in cash with individuals of the foreign exchange office and of the foreign exchange bureau of the hotel;
b) the procedure of notifying the National Bank of Moldova on foreign exchange bureaux of the licensed bank;
c) the procedure of recording the foreign exchange entities;
d) the peculiarities related to the information to be displayed by the foreign exchange entities;
e) the operations of the foreign exchange entities within the currency exchange activity in cash with individuals;
f) the procedures of performing currency exchange operations in cash with individuals;
g) the procedures of submitting the information and reports to the National Bank of Moldova by the foreign exchange entities;
h) certain peculiarities of the foreign exchange entities’ activity related to the legislation in the field on prevention and combating money laundering and financing of terrorism;
i) the peculiarities of performing by the National Bank of Moldova of the control of foreign exchange entities’ activity;
j) the peculiarities related to the application of sanctions to the foreign exchange entities.
(item 2 modified by the Decision of the NBM no.233 of 27.10.2011)

 

Chapter II.  The peculiarities of licensing the currency exchange activity
in cash with individuals of the foreign exchange office
and of the foreign exchange bureau of the hotel

Section 1. General provisions

3. The submission to the National Bank of Moldova of the documents according to the provisions of this chapter shall be performed by the administrator of the foreign exchange office, of the hotel or by the person authorized by him on the basis of the document confirming the powers (for instance, power of attorney) and of the identity document of the person submitting the documents.

4. The documents drawn up by the applicant / license holder, which shall be submitted to the National Bank of Moldova according to the provisions of this chapter, shall be signed by the administrator of the foreign exchange office, of the hotel or by the person authorized by him, unless this Regulation does not stipulate otherwise.

5. While receiving the application /notice and the documents attached thereto according to the provisions of this chapter, the National Bank of Moldova shall draw up a statement where:
a) the information on the received application/ notice and the documents shall be registered;
b) the name of the applicant /license holder, its IDNO, the date of registering the application /notice with the attached documents and the registration number at the National Bank of Moldova shall be indicated.

6. The copy of the statement mentioned in item 5 of this Regulation, authenticated by the signature of the responsible person from the National Bank of Moldova, shall be handed over/sent to the applicant /license holder. The copy of the statement shall be handed over, upon signature, to the person that submitted the application and the attached documents, while sending shall be performed by a registered letter.

61. Payment of pecuniary contributions to the equity of the foreign exchange office, including in case of increase of the equity, shall be carried out by entering such funds to the accounts of the foreign exchange office/ its branches opened within licensed banks, as proof serving the documents specified in this Regulation.
(item 61 introduced by the Decision of the NBM no.143 of 21.06.2012)

Section 2. The peculiarities related to the documents necessary for obtaining 
the license /authorized copy of the  license

7. In order to obtain the license /authorized copy of the license, the following documents shall be submitted to the National Bank of Moldova according to the provisions of paragraph (7) Art.47 of the Law no.62-XVI as of March 21, 2008:
1) by the foreign exchange office:
a) an application according to the form specified in Attachment no.1 to this Regulation, to which the documents mentioned in paragraph (2) Art.47 of the Law no.62-XVI as of March 21, 2008 shall be attached – for obtaining the license,
b) an application according to the form specified in Attachment no.2 to this Regulation, to which documents mentioned in paragraph (4) Art.47 of the Law no.62-XVI as of March 21, 2008 shall be attached - for obtaining the authorized copy of the license in order to carry out the currency exchange activity through a branch;
2) by the hotel – an application according to the form specified in Attachment no.1 to this Regulation, to which documents mentioned in paragraph (5) Art.47 of the Law no.62-XVI as of March 21, 2008 shall be attached.

8. The confirmation on the availability of means and devices specified in paragraph (1) Art.42 of the Law no.62-XVI as of March 21, 2008, necessary for carrying out currency exchange activity by the foreign exchange office, its branch, the hotel may be submitted by filling in the form specified in the Attachment no.3 to this Regulation.

9. The personal files of the persons specified in item j) paragraph (2), item i) paragraph (4) and item f) paragraph (6) Art.47 of the Law no.62-XVI as of March 21, 2008 shall be submitted according to the form specified in Attachment no.4 to this Regulation.

10. The working hours of the foreign exchange office, its branch, of the foreign exchange bureau of the hotel shall be notified to the National Bank of Moldova by submitting the daily programme, signed by the administrator of the foreign exchange office /hotel or by the person authorized by him and shall be certified by the stamp of the respective foreign exchange entity.

11. The confirmation on compliance of the premise of the foreign exchange office, its branch, designed for the performance of currency exchange operations in cash with individuals, with the requirements established in paragraph (10) Art.44 of the Law no.62-XVI as of March 21, 2008 and in Attachment no.5 to this Regulation, may be submitted by filling in the form specified in Attachment no.6 to this Regulation.

12. The information regarding the number of operational windows of the foreign exchange office, of its branch shall be submitted according to Attachment no.7 to this Regulation.

13. In case of requesting the issuance of the license, for the confirmation of the existence on the account of the foreign exchange office opened with a licensed bank of the pecuniary  contributions in its equity in the minimum amount established in paragraph (1) Art.44 of the Law no. 62-XVI as of March 21, 2008, the document /documents stipulated in sub-item a) item 1of Attachment no.71 to this Regulation, which correspond to the requirements specified in items 7, 8 and in sub-item a) item 10 of the mentioned Attachment, shall be submitted.
(item 13 in the wording of the Decision of the NBM no.143 of 21.06.2012)
(item 13 modified by the Decision of the NBM no.233 of 27.10.2011)

14. In case of requesting the issuance of the authorized copy of the license, for the confirmation of the existence of funds specified in paragraphs (1) and (2) Art.44 of the Law no.62-XVI as of March 21, 2008, the foreign exchange office shall submit the documents specified in Attachment no. 71 to this Regulation as follows:
1) in case of requesting the issuance of the authorized copy of the license simultaneously with the requesting the issuance of the license, the document/documents specified in sub-item b) item 1, which correspond to the requirements specified in items 7, 8 and in sub-item a) item 10 of the mentioned Attachment, shall be submitted;
2) in case of requesting the issuance of the authorized copy of the license after the issuance of the licence, without increasing the equity (when the equity formed from the pecuniary  contributions is sufficient to issue the authorized copy of the license), the following documents shall be submitted:
a) the document stipulated in item 2, which corresponds to the requirements specified in items 7, 8 and in sub-item b) item 10 of the mentioned Attachment; and/or
b) the documents stipulated in items 3-6, which correspond to the requirements specified in sub-item b) item 10 and in item 11 of the mentioned Attachment;
3) in case of requesting the issuance of the authorized copy of the license after the issuance of the licence, when the equity of the foreign exchange office has been increased to obtain the authorised copy of the licence, the following documents shall be submitted:
a) the document stipulated in item 2, which corresponds to the requirements specified in items 7, 8 and in sub-item b) item 10 of the mentioned Attachment; and
b) the documents stipulated in items 3-6, which corresponds to the requirements specified in sub-item b) item 10 and in item 11 of the mentioned Attachment.
(item 14 in the wording of the Decision of the NBM no.143 of 21.06.2012)

15. The funds referred to in item 13 and in paragraph 1) item 14 shall be withdrawn from the bank accounts of the foreign exchange office/its braches upon the submission to the licensed bank of the license issued by the National Bank of Moldova.
(item 15 in the wording of the Decision of the NBM no.143 of 21.06.2012)
(item 15 modified by the Decision of the NBM no.233 of 27.10.2011)

16. In case of requesting the issuance of the authorized copy of the license, the incorporation documents of the foreign exchange office shall contain the information on the branch for which the issuance of the authorized copy of the license is requested, as well as about the pecuniary contributions in the equity of the foreign exchange office in compliance with the provisions of paragraphs (1) and (2) Art.44 of the Law no.62-XVI as of March 21, 2008.

Section 3. The peculiarities related to the process of issuing
the license/ authorized copy of the license

17. In order to verify, directly at the location of the foreign exchange office, of its branch, of the foreign exchange bureau of the hotel, the compliance of the real facts with the information from the submitted documents, a verification team shall be appointed, consisting of two or more inspectors – employees of the National Bank of Moldova.

18. For performing the respective verification, the members of the verification team shall submit to the employees of the foreign exchange office, of its branch, of the hotel the service certificate of each member of the verification team.
(item 18 in the wording of the Decision of the NBM no.233 of 27.10.2011)

19. Following the verification directly at the location of the foreign exchange office, of its branch, of the foreign exchange bureau of the hotel, the verification report shall be worked out, stating the information on the compliance of the real facts with the information from submitted documents.

20. In case of  adopting the decision on the license issuance, the applicant shall submit the document confirming the payment of the fee for the license issuance.

21. Following the adoption of the decision on the issuance of  authorized copy of the license, the applicant shall submit the document confirming the payment of the fee for the issuance of authorized copy of the license. In the event that the application for issuing the authorized copy of the license was submitted after obtaining the license, the applicant shall also submit the original license of the foreign exchange office. The employee of the National Bank of Moldova shall make a photocopy of the submitted original license and shall return the original to the person that submitted it.

22. Upon submission to the National Bank of Moldova of the documents mentioned in items 20 and 21 of this Regulation, simultaneously, the copy of the received documents’ statement that was previously handed over /sent to the applicant shall be submitted. The notes about the date of receiving the respective documents shall be made both on the received documents’ statement that is at the National Bank of Moldova and on its copy. Also, a note on the return of the original license shall be made on the statement, fact confirmed by the signature of the person to whom the original license was returned.

23. The license shall be handed over, upon signature, to the administrator of the foreign exchange office, of the hotel or to the person authorized by him. The authorized copy of the license drawn up according to the provisions of item 24 of this Regulation shall be handed over, upon signature, to the administrator of the foreign exchange office or to the person authorized by him.

24. The authorized copy of the license shall meet the following requirements:
a) it shall be a photocopy of the original license of the National Bank of Moldova, including of the attachment thereto;
b) the first page of the photocopy of the license and of the attachment to the license shall contain the following inscription in the upper right side:

c) the original signature of the manager of the National Bank of Moldova and the date of sign shall be the applied on the respective inscription;
d) the official stamp of the National Bank of Moldova shall be applied on the inscription and on the respective signature.
(item 24 modified by the Decision of the NBM no.233 of 27.10.2011)

241. Simultaneously with the license /the authorized copy of the license, a notice containing the numerical code of the foreign exchange office /the numerical code of its branch, the numerical code of the hotel assigned by the National Bank of Moldova in order to facilitate processes related to reporting to the National Bank of Moldova, shall be issued.
(item 241 introduced by the Decision of the NBM no.233 of 27.10.2011)

Section 4. The peculiarities related to the prolongation
of the license validity term

25. In order to prolong the validity term of the license, the license holder shall submit to the National Bank of Moldova an application on prolongation of the license validity term according to Attachment no.11 to this Regulation, to which shall be attached:
a) the original license of the National Bank of Moldova;
b) the authorized copies of the license issued on the basis of the license, which validity term shall be prolonged - in case when the foreign exchange office has branches.                              

26. In order to further carry out the currency exchange activity in cash with individuals, the National Bank of Moldova issues to the license holder certificates in accordance with Attachment no.12 or, where appropriate, in accordance with Attachment no.13 to this Regulation. The certificate shall be issued, upon signature, to the person that submitted the application and the attached documents, during 3 working days from the date of submitting the application and the respective documents.
(item 26 modified by the Decision of the NBM no.233 of 27.10.2011)

27. While examining the application on prolongation of the license validity term, the National Bank of Moldova shall follow the procedure similar to the updating procedure provided for in this Regulation, taking into account the peculiarities set forth in this section.

28. Within 10 working days from the date of application submission, the National Bank of Moldova shall notify the applicant about the adoption of the decision on the prolongation of the license validity term and, if the foreign exchange office has branches, on the recognition of invalidity of the authorized copies of the license.

29. In case of adopting the decision on the prolongation of the license validity term, the applicant shall submit to the National Bank of Moldova the document confirming the payment of the fee for issuing the license and, if the foreign exchange office has a branch, the document  confirming the payment of the fee for issuing the authorized copy of the license. If the foreign exchange office has two or more branches, the amount indicated in the document confirming the payment of the fee shall be sufficient for issuing the license and the necessary number of the authorized copies of the license.

30. While submitting to the National Bank of Moldova the document confirming the payment of the fee, simultaneously, the copy of the received documents’ statement that was previously handed over /sent to the applicant shall be submitted. The notes about the date of receiving the document that confirms the payment of the fee shall be made both on the received documents’ statement that is at the National Bank of Moldova and on its copy.

31. The license with the prolonged validity term and its authorized copy shall be issued within 3 working days from the date of receiving the document confirming the payment of the respective fee.

32. The license with the prolonged validity term shall be issued on the same form by applying the following inscription:

(item 32 modified by the Decision of the NBM no.233 of 27.10.2011)

33. For the branches of the foreign exchange office, the  authorized copies of the license validated according to the provisions of item 24 of this Regulation shall be issued.

34. The license with the prolonged validity term, as well as – in case the foreign exchange office that has branches – the authorized copies of the license with the prolonged validity term shall be handed over, upon signature, to the administrator of license holder or to the person authorized by him.

Section 5.The peculiarities of notifying by the license holder about  the modification of
data from the documents attached to the application for the issuing the license

35. In case of changes in the data from the documents attached to the application for issuing the license/ authorized copy of the license, the license holder shall inform the National Bank of Moldova by a notice on data modification according to the form specified in Attachment no.14 to this Regulation, to which the documents confirming the mentioned modifications and other documents provided for in Art.51 of the Law no.62-XVI as of March 21, 2008 shall be attached.

36. In case of changes in the amount of funds provided for in paragraph (1) and, if branches exist, in paragraph (2) Art.44 of the Law no.62-XVI as of March 21, 2008, which were confirmed upon issuance of the license /authorized copy of the license through documents specified in item d) paragraph (2) and item c) paragraph (4) Art.47 of the mentioned law, the following documents shall be submitted:
a) the document specified in item 2 of Attachment no.71 to this Regulation, which corresponds to the requirements specified in items 7, 8 and in sub-item c) item 10 of the mentioned Attachment;
b) the documents specified in items 3-6 of Attachment no.71 to this Regulation, which correspond to the requirements specified in sub-item c) item 10 and in item 11 of the mentioned Attachment;
c) the amendments to the incorporation documents of the foreign exchange office that contain information abount the modifincation of the equity of the foreign exchange office in compliance with the provisions of paragraphs (1) and (2) Art.44 of the Law no. 62-XVI as of March 21, 2008.
(item 36 modified by the Decision of the NBM no.143 of 21.06.2012)

37. With regard to the facts that were confirmed upon issuing the license/ authorized copy of the license through documents specified in the item i) paragraph (2), item h) paragraph (4) and item e) paragraph (6) Art.47 of the Law no.62-XVI as of March 21, 2008, the foreign exchange office /hotel shall inform the National Bank of Moldova on the fact that the respective persons have committed offences for financial interest, established in final court decisions.

38. In the case provided for in paragraph (4) Art.51 of the Law no.62-XVI as of March 21, 2008, the confirmation on the availability of means and devices specified in paragraph (1) Art.42 of the Law no.62-XVI as of March 21, 2008, necessary for carrying out the currency exchange activity through the additional operational window, as well as the confirmation on the compliance of the premise, designed for the performance of currency exchange operations in cash with individuals, with the requirements established in paragraph (10) Art.44 of the Law no.62-XVI as of March 21, 2008 and in Attachment no.5 to this Regulation, may be submitted by filling in the forms specified in Attachments no.3 and no.6 to this Regulation.

39. In the case provided for in paragraph (3) Art.51 of the Law no.62-XVI as of March 21, 2008, the verification procedure specified in items 17-19 of  this Regulation shall be applied.

40. In case when changes occurred in the respective documents imply modification of data from the license / authorized copy of the license, the provisions of section 6 of this chapter shall be applied as well.

Section 6. The peculiarities of updating the license
/authorized copy of the  license

41. In case there are reasons for updating the license, its holder shall submit to the National Bank of Moldova an application for updating according to Attachment no.15 to this Regulation. If the license holder–foreign exchange office has branches, in the same application for updating, the license holder shall require the issuance, for each branch, the authorized copy of the updated license.

42. If the license holder–foreign exchange office has branches, in case of modification of the data from the attachment to the authorized copies of the license, the license holder shall submit to the National Bank of Moldova for each branch an application for updating according to form specified in Attachment no.16 to this Regulation.

43. The documents specified in paragraph (2) Art.52 of the Law no.62-XVI as of March 21, 2008 shall be attached to the application for updating, taking into account the following peculiarities:
a) the foreign exchange office /hotel shall attach the original license to the application for updating the license;
b) if the foreign exchange office has branches, the original license and the authorized copies of the license shall be attached to the application for updating the license;
c) the original license (which subsequently shall be returned) for making a photocopy and the authorized copy of the license shall be attached to the application for updating the authorized copy of the license.

44. In order to further carry out the currency exchange activity in cash with individuals, the National Bank of Moldova issues to the license holder certificates in accordance with Attachment no.12 or, where appropriate, in accordance with Attachment no.13 to this Regulation. The certificate shall be issued, upon signature, to the person that submitted the application and the attached documents, during 3 working days from the date of submitting the application and the respective documents.
(item 44 modified by the Decision of the NBM no.233 of 27.10.2011)

45. The National Bank of Moldova shall notify the applicant about the adoption of the decision on the updating the license /authorized copy of the license within 10 working days from the date of submitting the application for updating.

46. In case of adoption the decision on the updating the license /authorized copy of the license, the applicant shall submit the document confirming the payment of the fee for the updating the license /authorized copy of the license.

47. While submitting to the National Bank of Moldova of the document confirming the payment of the fee, simultaneously, the copy of the received documents’ statement that was previously handed over /sent to the applicant shall be submitted. The notes about the date of receiving the document that confirms the payment of the fee shall be made both on the received documents’ statement that is at the National Bank of Moldova and on its copy.

48. The updated license /authorized copy of the updated license shall be issued within 3 working days from the date of receiving the document confirming the payment of the fee for updating.

49. The updated license shall be issued on the same form or, where appropriate, on a new form, taking into account the modifications indicated in the application. For the branches of the foreign exchange office the authorized copies of the updated license shall be issued according to the provisions of item 24 of this Regulation.

50. In the event that the updated license shall be issued on a new form, the previous license, as well as, if the foreign exchange office has branches, the authorized copies of the previous license become invalid.

51. While updating the authorized copy of the license, the previous authorized copy of the license becomes invalid.

52. The updated license /authorized copy of the updated license, as well as the original license submitted, for making a photocopy, together with the application for updating of the authorized copy of the license shall be handed over, upon signature, to the administrator of the license holder or to the person authorized by him.

Section 7. The peculiarities of issuing the duplicate of the license
/the authorized copy of the license

53. In case there are reasons for issuing the duplicate of the license, the license holder shall submit to the National Bank of Moldova an application for issuing the duplicate according to the form specifies in Attachment no.17 to this Regulation. If the license holder–foreign exchange office has branches, in the same application for issuing the duplicate, the license holder shall require the issuance, for each branch, the authorized copy of the license duplicate.

54. In case of loss or damage of the branch’s authorized copy of the license, the license holder shall submit to the National Bank of Moldova for each branch an application for issuing the duplicate according to the form specified in Attachment no.18 to this Regulation.

55. The document confirming the payment of the fee for issuing the duplicate of the license /authorized copy of the license, as well as the documents indicated in item 56 or, where appropriate, in item 57 of this Regulation shall be attached to the application for issuing the duplicate of the license / authorized copy of the license.

56. In case of damage, the documents specified in paragraph (3) Art.53 of the Law no.62-XVI as of March 21, 2008 shall be attached to the application for issuing the duplicate, taking into account the following peculiarities:
a) the foreign exchange office /hotel shall attach the damaged license to the application for issuing the duplicate of the license;
b) if the foreign exchange office has branches, the damaged license and the authorized copies of this license shall be attached to the application for issuing the duplicate of the license;
c) the original license (which subsequently shall be returned) for making a photocopy and the authorized copy of this license shall be attached to the application for issuing the duplicate of the authorized copy of the license.

57. In case of loss, the following documents shall be attached to the application of the foreign exchange office for issuing the duplicate:
a) if the foreign exchange office has branches, the authorized copies of this license shall be attached to the application for issuing the duplicate of the license;
b) the original license (which subsequently shall be returned) for making photocopies shall be attached to the application for issuing the duplicate of the authorized copy of the license.

58. In order to further carry out the currency exchange activity in cash with individuals, the National Bank of Moldova issues to the license holder certificates in accordance with Attachment no.12 or, where appropriate, in accordance with Attachment no.13 to this Regulation. The certificate shall be issued, upon signature, to the person that submitted the application and the attached documents, during 3 working days from the date of submitting the application and the respective documents.
(item 58 modified by the Decision of the NBM no.233 of 27.10.2011)

59. The National Bank of Moldova shall make out the duplicate of the license and apply on this duplicate the following inscription:

(item 59 modified by the Decision of the NBM no.233 of 27.10.2011)

60. In the event that the foreign exchange office has branches, the duplicate of the authorized copy of the license shall be issued for each branch. On these copies the inscription provided for in item 24 of this Regulation shall be applied.

61. In the event that the branch’s authorized copy of the license was lost or damaged, the National Bank of Moldova shall make out the duplicate of the authorized copy of the license. On this copy the following inscription shall be applied:

(item 61 modified by the Decision of the NBM no.233 of 27.10.2011)

62. The respective duplicate, as well as the original licenses subject to returning shall be handed over, upon signature, to the administrator of the license holder or to the person authorized by him.

 

Chapter III. Notifying the National Bank of Moldova on
the foreign exchange bureaux of the licensed banks

(the name of chapter III in wording of the Decision of the NBM no.233 of 27.10.2011)

63. In order to perform currency exchange operations in cash with individuals, the licensed bank shall have the right to open a foreign exchange bureau within the head office, branch or secondary office. The bank shall inform the National Bank of Moldova about this fact by a notice on the opening of the foreign exchange bureau of the licensed bank according to the form specified in Attachment no.19 to this Regulation.
(item 63 modified by the Decision of the NBM no.233 of 27.10.2011)

64. The working hours of the foreign exchange bureau of the licensed bank shall be notified to the National Bank of Moldova by submitting the daily programme, which shall contain the name of the licensed bank, the name of the licensed bank` subdivision (branch /secondary office) within which the foreign exchange bureau is opened, the information provided for in sub-item g) item 1 of this Regulation, as well as other information that bank considers necessary to indicate.
(item 64 modified by the Decision of the NBM no.233 of 27.10.2011)

65. The notice and the daily programme of the respective bureau shall be submitted no later than the date of opening the foreign exchange bureau.

66.  In the event of changes in the data from the notice, in the daily programme, that were submitted to the National Bank of Moldova at the opening of the foreign exchange bureau, the licensed bank, in terms established in paragraph (3) Art.45 of the Law no.62-XVI as of March 21, 2008, shall submit to the National Bank of Moldova, depending on the case, a notice on modification of data related to the foreign exchange bureau of the licensed bank according to the form specified in Attachment no.20 to this Regulation and /or the modified daily programme.

661. In the event of suspension /resumption /definitely termination of the activity of the foreign exchange bureau, the licensed bank, at least one day before the date of suspension /resumption /definitely termination of the activity of the foreign exchange bureau, shall submit to the National Bank of Moldova an informative letter on suspension /resumption /definitely termination of the activity of the respective foreign exchange bureau. The letter shall contain the name of the licensed bank, the name of the licensed bank` subdivision (branch /secondary office) within which the foreign exchange bureau is opened, the date of the of suspension /resumption /definitely termination of the activity of the foreign exchange bureau, as well as other information that bank considers necessary to indicate.
(item 661 introduced by the Decision of the NBM no.233 of 27.10.2011)

662. The documents specified in items 63-661 shall be submitted to the National Bank of Moldova in electronic form (with digital signature) in accordance with the Instruction on the procedure of submission to the National Bank of Moldova by banks of the reports in electronic form, approved by the Decision of the Council of Administration of the National Bank of Moldova no.132 as of July 17, 2008.
(item 662 introduced by the Decision of the NBM no.233 of 27.10.2011)

 

Chapter IV. The keeping record of the foreign exchange entities and secretarial work

Section 1. The files and registers related to foreign exchange entities
kept by the National Bank of Moldova 

67. The National Bank of Moldova shall keep a separate file for each foreign exchange office, hotel that submitted the application for issuing the license, as well as for each licensed bank that notified the National Bank of Moldova on the opening of the foreign exchange bureau.

68. The documents received from the applicant (the license holder), the statements of documents received by the National Bank of Moldova, the copies of licenses /of authorized copies of license and other documents related to the licensing and activity of the applicant /license holder shall be kept in the file of the foreign exchange office and the hotel.

69. All documents received by the National Bank of Moldova from the licensed bank related to the foreign exchange bureaux of the respective bank, as well as other relevant documents shall be kept in the file of each licensed bank related to the activity of its foreign exchange bureaux.

70. The National Bank of Moldova shall keep a register of the applications and issued licenses/ authorized copies of licenses, as well as the register of notices submitted by the licensed banks.

71. The register of the applications and issued licenses/ authorized copies of licenses shall include at least the information about the license applicants (foreign exchange offices and hotels), the date of receiving the documents, the date and number of decisions of the National Bank of Moldova related to licensing, the date of issuing the license /authorized copy of the license and the signature of the person that received the license/ authorized copy of the license.

72. The register of notices submitted by the licensed banks shall include at least the information on the name of the licensed bank, the name of the branch /secondary office within which the foreign exchange bureau is opened, the address of the foreign exchange bureau and the date of receiving the notice.
(item 72 modified by the Decision of the NBM no.233 of 27.10.2011)

Section 2. The register of the foreign exchange entities

73. The National Bank of Moldova shall keep record of the foreign exchange entities in the Register of the Foreign Exchange Entities, which consists of three sections:
a) foreign exchange offices;
b) hotels;
c) licensed banks.

74. The section „foreign exchange offices” of the Register of the Foreign Exchange Entities shall include the following information:
a) data about the license holder–foreign exchange office (the name, IDNO, the legal address, the address of carrying out the currency exchange activity, the equity amount, the number of operational windows);
b) data about the branch of the foreign exchange office (the name of the branch, the legal address, the address of carrying out the currency exchange activity, the number of operational windows);
c) the date and the number of the decision on the issuance of  the license/ authorized copy of the license;
d) series, the number and the date of issuing the license /authorized copy of the license;
e) the validity term of the license;
f) the information on updating the license / authorized copy of the license, on the issue of duplicates;
g) the date and the number of the warning, the reasons of issuance;
h) the date and the number of the decision on suspension and resumption of the currency exchange activity of the foreign exchange office, the reasons of suspension;
i) the date and the number of the decision on withdrawal of the license issued for the foreign exchange office, the reasons of withdrawal;
j) the date and the number of the decision on stating the invalidity of the license / authorized copy of the license, the reasons of stating the invalidity.
(item 74 modified by the Decision of the NBM no.143 of 21.06.2012)
(item 74 modified by the Decision of the NBM no.233 of 27.10.2011)

75. The section „hotels” of the Register of the Foreign Exchange Entities shall include the following information:
a) data about the hotel (the name of the hotel, IDNO, the legal address);
b) the date and the number of the decision on the issuance of the license;
c) series, the number and the date of issuing the license;
d) the validity term of the license;
e) the information on updating the license, on the issue of duplicates;
f) the date and the number of the warming, the reasons of issuance;
g) the date and the number of the decision on suspension and resumption of the activity of the foreign exchange bureau, the reasons of the suspension;
h) the date and the number of the decision on withdrawal of the license issued for the hotel, the reasons of withdrawal;
i) the date and the number of the decision on the stating the invalidity of the license, the reasons of stating the invalidity.

76. The section „licensed banks” of the Register of the Foreign Exchange Entities shall include the following information:
a) data about the licensed bank (the name of the licensed bank, the bank’s identification code assigned in accordance with the provisions of the normative acts of the National Bank of Moldova, the legal address);
b) data about the foreign exchange bureau (the head office or the name of the branch /secondary office of the licensed bank within which the foreign exchange bureau of the licensed bank is opened, the address of the foreign exchange bureau, the number of operational windows);
c) the date of opening the foreign exchange bureau;
d) the date of closing the foreign exchange bureau;
e) the date and number of the documents issued by the National Bank of Moldova (decisions etc.) related to the activity of the foreign exchange bureau of the licensed bank, the reasons of issuance such documents.
(item 76 modified by the Decision of the NBM no.233 of 27.10.2011)

77. The information from the Register of the Foreign Exchange Entities shall be available on the official web page of the National Bank of Moldova.

78. The mentioned registers shall be tied and pages shall be numbered. The number of pages shall be indicated on the last page and shall be authenticated by the signature of the responsible person and the stamp of the National Bank of Moldova.

79. Each record in the register, including rectification shall be certified by the signature of the person responsible for keeping the register.

 

Chapter V. The peculiarities related to the information to be displayed
by the  foreign exchange entities

80. Within the premise of the foreign exchange entity, the following documents /information shall be displayed in a visible spot for individuals:
a) the copy of the license of the foreign exchange office (in the case of the branch of the foreign exchange office – of the authorized copy of the license) /of the hotel, on the base of which the currency exchange activity shall be performed. The respective copy shall be authenticated by the administrator of the respective foreign exchange entity or by the person authorized by him. Displaying the respective copies by the licensed banks shall be made in accordance with the Regulation on disclosure by banks from the Republic of Moldova of information related to their activity, approved by the Decision of the Council of Administration of the National Bank of Moldova no.52 as of March 20, 2014;
b) the working hours of the foreign exchange entity by displaying the daily programme;
c) the information on the collection from individuals of the mandatory additional payment in accordance with the Law on republican fund and local funds for social support of the population no.827-XIV as of February 18, 2000;
d) banknotes fitness criteria according to Attachment no.21 to this Regulation;
e) the order on bid and ask rates for performing currency exchange operations in cash with individuals drawn up in accordance with the requirements established in Attachment no.22 to this Regulation;
f) the order on the commissions applied while performing currency exchange operations in cash with individuals drawn up in accordance with the requirements established in Attachment no.22 to this Regulation;
g) the announcement having the following content:
„In case of certain complaints, objections or proposals related to the activity of the foreign exchange entity, the individual may:
- submit a petition to the National Bank of Moldova at the address: 1 Grigore Vieru Avenue, MD-2005, m. Chişinău, or
- appeal to the National Bank of Moldova at the phone number 228-642In  the case of complaints, objections or proposals regarding the activity of the foreign exchange entity, reported by a telephone call to the National Bank of Moldova by clients, the respective telephone calls shall be recorded magnetically by the National Bank of Moldova.  .

(item 80 modified by the Decision of the NBM no.52 of 20.03.2014)
(item 80 modified by the Decision of the NBM no.233 of 27.10.2011)

81. At the end of the working day, the displayed information on the bid and ask rates established for the day shall be removed from the billboards. In the event that the foreign exchange entity performs currency exchange operations in cash with individuals 24 hours a day, at the end of each period established according to the provisions of paragraph (9) Art.43 of the Law no.62-XVI as of March 21, 2008, the bid and ask rates displayed on the billboard shall correspond with the exchange rates established by the order on bid and ask rates for performing currency exchange operations in cash with individuals.

 

Chapter VI. The operations of foreign exchange entities within
the currency exchange activity in cash with individuals 

Section 1.The currency exchange operations in cash with individuals

82. The currency exchange operations in cash with individuals shall include the following operations with individuals of the foreign exchange entities:
a) purchase operations of foreign currency in cash against Moldovan Lei in cash;
b) purchase operations of traveller’s cheques in foreign currency against Moldovan Lei in cash;
c) sale operations of foreign currency in cash against Moldovan Lei in cash;
d)  sale operations of traveller’s cheques in foreign currency against Moldovan Lei in cash;
e) purchase /sale operations of foreign currency in cash against other foreign currency in cash;
f) purchase /sale operations of foreign currency in cash against traveller’s cheques in other foreign currency;
g) purchase /sale operations of traveller’s cheques in foreign currency against other foreign currency in cash;
h) purchase /sale operations of traveller’s cheques in foreign currency against traveller’s cheques in other foreign currency.

83. The purchase /sale operations specified in sub-items e)–h) item 82 of this Regulation shall be made with individuals by performing simultaneously the operation of purchase of a certain foreign currency against Moldovan Lei and the operation of sale of other foreign currency against Moldovan Lei.

84. The purchase /sale operations of traveller’s cheques in foreign currency shall be performed in accordance with the provisions of the agreement concluded between the foreign exchange entity and the issuer of these cheques or other legal entity with the view of performing the traveller’s cheques operations.

Section 2. The operations of the foreign exchange office

85. Within the currency exchange activity in cash with individuals, the foreign exchange office may perform the following operations:
a) currency exchange operations in cash with individuals specified in item 82 of this Regulation;
b) the depositing on its accounts, including on its branches’ accounts opened with licensed banks, if exists, of funds received following the currency exchange operations in cash with individuals;
c) the withdrawal from its accounts, including from its branches’ accounts opened with licensed banks, if exists, of funds for performing currency exchange operations in cash with individuals;
d) the transmission of funds from the branch of the foreign exchange office to the head office of the foreign exchange office or to other branch;
e) the receipt of funds by the branch of the foreign exchange office from the head office of the foreign exchange office or from other branch;
f) purchase operations of foreign currency with the licensed bank to be subsequently sold to individuals;
g) sale operations of foreign currency with the licensed bank received following the currency exchange operations in cash with individuals.

86. The operations mentioned in sub-items d) and e) item 85 of this Regulation shall be performed in compliance with the provisions of paragraphs (2) and (3) Art.44 of the Law no.62-XVI as of March 21, 2008.

87. The operations mentioned in sub-items f) and g) item 85 of this Regulation shall be performed through the accounts of the foreign exchange office, including the accounts of its branches, if exists, opened with the licensed banks.

Section 3. The operations of the hotel

88. Within the currency exchange activity in cash with individuals, the hotel may perform the following operations in the context of its foreign exchange bureau’s activity:
a) currency exchange operations in cash with individuals specified in sub-items a) and b) item 82 of this Regulation;
b) the depositing on its account opened with licensed banks of funds received following the currency exchange operations in cash with individuals specified in sub-items a) and b) item 82 of this Regulation;
c) sale operations of foreign currency with the licensed bank received following the currency exchange operations in cash with individuals specified in sub-items a) and b) item 82 of this Regulation.

89. The operations mentioned in sub-item c) item 88 of this Regulation shall be performed through the accounts of the hotel opened with licensed banks.

Section 4. The operations of the foreign exchange bureau of the licensed bank

90. Within the currency exchange activity in cash with individuals, the foreign exchange bureaux of licensed banks may perform currency exchange operations in cash with individuals specified in item 82 of this Regulation. Such operations shall be performed in compliance with the provisions of paragraph (2) Art.45 of the Law no.62-XVI as of March 21, 2008.

91. The licensed bank shall organize the activity of the foreign exchange bureau in such a way that funds provided for the performance currency exchange operations in cash with individuals received by cashiers of the foreign exchange bureau at the beginning of the working day of the foreign exchange bureau, to be used solely for performing currency exchange operations in cash with individuals.

 

Chapter VII. The procedures of performing currency exchange operations
in cash with individuals

Section 1. General provisions

92. Until the beginning of working day of the cashier, the cashier shall be provided with the following:
a) advances in Moldovan Lei and /or in foreign currency;
b) forms of the documents necessary for performing currency exchange operations in cash with individuals: currency exchange bulletins, reports on the performed operations according to Attachment no.8 to this Regulation and, if necessary, with forms of the registers according to Attachments no.9, no.10 and no.23 to this Regulation.

93. The foreign exchange entities shall keep record of all performed operations and of the identified individuals, observing the requirements of the acting legislation, including of this Regulation.

94. While receiving foreign currency or national currency, the cashier of the foreign exchange entity shall verify the authenticity of the respective banknotes in foreign currency or in national currency and of the traveller’s cheques in foreign currency. In case of identifying the mentioned values that are suspected of being false, the foreign exchange entity shall proceed in accordance with the acting legislation.

Section 2. The identification of the individuals

95. While performing currency exchange operations in cash with the individual, the cashier of the foreign exchange bureau of the licensed bank, of the foreign exchange office /its branch, of the foreign exchange bureau of the hotel shall identify and verify the identity of individual in the cases established under item 96 of this Regulation and shall fill in the documents necessary for keeping record of the performed operations and of identified clients.

96. The identification and the identity verification of the individual shall be performed in the following cases:
a) in the case when the amount of the transaction is at least 50000 Moldovan Lei (according to the official exchange rate of Moldovan Leu valid for the day of operation performance), regardless of the fact that the transaction is carried out through one operation or through several operations;
b) regadless of the transaction amount, in the event when the cashier of the foreign exchange bureau of the  licensed bank, of the foreign exchange office /its branch, of the foreign exchange bureau of the hotel has suspicions of money laundering or terrorism  financing regarding the operation thereof.
(item 96 modified by the Decision of the NBM no.233 of 27.10.2011)

97. In the process of identification and identity verification of the individual who directly performs the operation, the cashier of the foreign exchange bureau of the licensed bank, of the foreign exchange office /its branch, of the foreign exchange bureau of the hotel shall require from the client the following identity documents:
a) the identity document from the national passports system (passport /identity card /permit  for permanent residence etc. issued by the competent authority of the Republic of Moldova) – from the resident;
b) the passport issued by the competent authorities of the foreign state, permit  for temporary residence issued by the competent authority of the Republic of Moldova – from the non-resident.

98. In the case when the operation shall be performed in the name of another individual (hereinafter – the beneficial owner), the individual who directly performs the operation shall submit, along with the identity document, the power of attorney legalized accordingly. The identification and the identity verification of the beneficial owner shall be carried out in the cases stipulated under item 96 of this Regulation based on the data of the power of attorney.

99. The identity documents and the power of attorney shall be submitted in original and shall be valid on the date of submission.

991. In order to ensure the compliance with the legislation in the field of prevention and combating money laundering and terrorism financing, depending on the amount of the operation and /or on the associated risk, other documents may also be requiered / other real and independent sources may be used to verify the information submitted by the individual under this Regulation, in the event the identity document /the power of attorney does not contain the respective information.
(item 991 introduced by the Decision of the NBM no.233 of 27.10.2011)

100. In the event when an individual shall be identified, the cashier of the foreign exchange bureau of the licensed bank, of the foreign exchange office /its branch, of the foreign exchange bureau of the hotel shall be obliged not to perform the operation if it is not possible to comply with the requirements related to the identification and verification of the identity of the individual, including of the beneficial owner, in accordance with the provisions of this Regulation or, where appropriate, if it is not possible to obtain the information on complex and unusual transactions.
(item 100 in wording of  the Decision of the NBM no.233 of 27.10.2011)

Section 3. The registration of the performed operations and
the filling in of necessary documents

101. While performing any currency exchange operation in cash with the individual, until the respective funds are handed over to the client, the cashier shall record the currency exchange operation in the cash control register and shall print the cash voucher, with the reflection of its elements on the cash control register’s band in accordance with the requirements of the legislation in the field of application of the cash control registers.

102. The cash voucher shall be handed over to the client along with the respective funds.

103. In addition to the cash voucher, the cashier shall fill in the currency exchange bulletin in the event that:
a) the currency exchange operation in cash with individual shall be performed with the individual’s identification; and /or
b) the cash control register can not ensure the printing on the cash voucher of all the elements provided for by the acting legislation (including the additional obligatory payment and commissions); and /or
c) on client’s request.

104. The currency exchange bulletin shall be drawn up in two copies in accordance with the form and procedures of filling in from Atachment no.24 to this Regulation.

1041. The data of the currency exchange bulletin which is also contained in the cash voucher (amount etc.) shall be identical.
(item1041 introduced by the Decision of the NBM no.233 of 27.10.2011)

105. After filling in the currency exchange bulletin,  the cashier and the client shall sign both of the copies thereof. By the signature, the client confirms the reception of the respective funds, of the first copy of the currency exchange bulletin, as well as the veracity of the information about the client and, depending on the case, about the beneficial owner, indicated in the currency exchange bulletin (in case this information shall be indicated).

106. In case of drawing up of the currency exchange bulletin, the cash voucher shall be attached to the first copy of the currency exchange bulletin and shall be handed over to the client together with the respective funds.

107. The second copy of the currency exchange bulletin shall remain at the foreign exchange entity.

108. Erasures and corrections on the cash vouchers and on the currency exchange bulletins shall not be allowed.

109. In cases and conditions provided for by the legislation in the field of application of cash control registers, the payment receipt shall be issued instead of cash voucher.

110. If the cash control register cannot ensure the delimitation of purchase and sale operations of the foreign currency in cash by the purchase and sale operations of traveller’s checks, as well as cannot ensure printing the data about commissions, additional obligatory payment, about traveller’s cheques (name, numbers, series), than, regardless of the registration of the operations on the cash control register, currency exchange operations in cash with individuals at the moment of its performance shall be registered additional in the registers according to Attachments no.9 and no.10 to this Regulation.

111. In the case specified in item 110, for each type of currency exchange operation in cash with individuals a separate register shall be opened, namely:
a) the register of purchase operations of foreign currency in cash against Moldovan Lei in cash;
b) the register of purchase operations of traveller’s cheques in foreign currency against Moldovan Lei in cash;
c) the register of sale operations of foreign currency in cash against Moldovan Lei in cash;
d) the register of sale operations of traveller’s cheques in foreign currency against Moldovan Lei in cash.
(item111modified by the Decision of the NBM no.233 of 27.10.2011)

112. In the event that, taking into account the provisions of item 110 of this Regulation, the filling in of registers according to Attachments no.9 and no.10 to this Regulation is not required, the cashier shall fill in the Register of the Identified Individuals according to Attachment no.23 to this Regulation, while performing the currency exchange operation in cash with the individual, which require the individual’s identification.

113. The information indicated on the cash control register’s band shall comply with the relevant information indicated in the registers.

114. During the working day of the cashier the erroneous records in the registers filled in manually shall be cancelled by crossing out or rectified indicating the date of cancellation /rectification and authenticated by the cashier’s signature.

Section 4. The closing of the working day of the cashier

115. At the end of the working day of the cashier, at the cash control registers shall be obtained the consolidated fiscal documents provided for by the legislation in the field of application of cash control registers.

116. In the event that, according to item 110 of this Regulation, the registers according to Attachments no.9 and no.10 to this Regulation were additionally filled in, at the end of the working day of the cashier, the cashier, in each register in section „Summarized data”, shall summarize operations performed during his working day.

117. Data of section „ Summarized data” of registers filled in additionally shall be verified with the relevant data from consolidated fiscal documents.

118. On the basis of the consolidated fiscal documents and of the registers filled in according to Attachments no.9 and no.10 to this Regulation, the cashier shall make, in accordance with Attachment no.8 to this Regulation, and sign the report on operations performed during his working day .

119. The cashier shall verify the balances of cash in Moldovan Lei, in foreign currency and of traveller’s cheques, for each item name, with the balances at the end of his working day as reflected in the report from Attachment no.8 to this Regulation.

120. The following documents, which shall reflect operations performed by the cashier during his working day, shall be attached to the report compiled in accordance with Attachment no.8 to this Regulation: the registers filled in according to Attachments no.9, no.10 and no.23 to this Regulation, the second copies of currency exchange bulletins, copies of the documents on the basis of which the cashier received and transmitted funds, the cash control register’s band, the copy of the consolidated fiscal documents.

 

Chapter VIII. Submitting the information and reports to the
National Bank of Moldova by the foreign exchange entities

Section 1. Informing the National Bank of Moldova on
the bid and ask rates of foreign currencies

121. Foreign exchange entities shall inform the National Bank of Moldova on the bid and ask rates of major foreign currencies (U.S. dollar, Euro, Russian Ruble, Romanian Leu, Ukrainian hryvnia) set up for the reporting day to perform the currency exchange operations in cash with individuals, by submitting the reports established by this section.

122. The licensed bank shall compile the report “Average bid rates and average ask rates of major foreign currencies of the foreign exchange bureaux of the licensed bank” in accordance with the Instruction on the reporting of certain foreign exchange operations by the licensed banks, approved by the Decision of the Council of Administration of the National Bank of Moldova no.11 of January 22, 2009 (Official Monitor of the Republic of Moldova, 2009, no.47-48, Art.178). The calculations of the average rates shall be kept in the files of the licensed bank.
(item 122 in the  wording of the Decision of the NBM no.179 of 18.09.2014)

123. The foreign exchange office shall compile the Report on bid rates and ask rates of major foreign currencies set up by the foreign exchange office, in accordance with the form and procedures of its compiling stated in Attachment no.242 to this Regulation.

124. The hotel shall compile the Report on bid rates of major foreign currencies set up by the hotel, in accordance with the form and procedures of its compiling stated in Attachment no.243 to this Regulation.

125. The reports indicated in items 122-124 shall be compiled based on the data from the orders on bid and ask rates for performing currency exchange operations in cash with individuals for the reporting day.

1251. The reports indicated in items 122-124 shall be compiled and submitted to the National Bank of Moldova daily (except non-working days), at the latest at 10.00 AM of the reporting date.

(item 125 2 abrogated by the Decision of the NBM no.179 of 18.09.2014)

1253. The reports referred to in items 123 and 124 shall be submitted to the National Bank of Moldova in electronic form in accordance with the Instruction on the procedure of submission to the National Bank of Moldova by the foreign exchange offices and hotels of the reports in electronic form, approved by the Decision of the Council of Administration of the National Bank of Moldova no.232 of October 27, 2011. In exceptional cases (e.g., loss of connection to the Internet, lack of electricity), the information from the reports specified in items 123 and 124 shall be submitted by telephone.

1254. The foreign exchange offices and hotels shall be responsible for the veracity of the information submitted in accordance with the reports indicated in items 123 and 124 and for its conformity to the data from the orders on the bid and ask rates for performing currency exchange operations in cash with individuals.
(section 1 in the wording of the Decision of the NBM no.233 of 27.10.2011)

Section 2. Reporting  to the National Bank of Moldova of the operations
performed by foreign exchange entities

126. The foreign exchange entities shall report to the National Bank of Moldova the operations performed within the currency exchange activity in cash with individuals.

(item 127 abrogated by the Decision of the NBM no.179 of 18.09.2014)

128. The foreign exchange office shall submit the Report on currency exchange operations performed by the foreign exchange office, in accordance with the form and procedures of compiling stated in Attachment no.26 to this Regulation.

129. The hotel shall submit the Report on currency exchange operations performed by the hotel in accordance with the form and procedures of compiling stated in Attachment no.27 to this Regulation.

130. The reports shall be made on the basis of accounting data for the reporting period.

131. The mentioned reports shall be made monthly and shall be submitted to the National Bank of Moldova at the latest on the 5th of the month following the reporting month. In the event that the 5th day is a non-working day, the report shall be submitted the next working day.

132. The foreign exchange offices and the hotels shall submit the respective reports in electronic form in accordance with the Instruction on the procedure of submission to the National Bank of Moldova by the foreign exchange offices and hotels of the reports in electronic form, approved by the Decision of the Council of Administration of the National Bank of Moldova no.232 of October 27, 2011.
(item 132 modified by the Decision of the NBM no.233 of 27.10.2011)

1321. The data from the reports submitted in electronic form by the foreign exchange offices and hotels shall correspond to the data from these reports on paper form, which are kept at the foreign exchange office /hotel.
(item 1321 introduced by the Decision of the NBM no.233 of 27.10.2011)

133. If it was found that the changes shall be operated in the reports for the previous periods, the foreign exchange office, the hotel shall be obliged to rectify the errors, to transmit again the report in electronic form and to notify the National Bank of Moldova through an official letter, which shall include explanations on performed changes. This letter shall be submitted within 2 working days from the date of retransmission of the report in electronic form.
(item 133 in the wording of the Decision of the NBM no.179 of 18.09.2014)

134. The licensed bank shall report the operations performed within the currency exchange activity in cash with individuals within the report “Foreign currency purchase and sale operations performed by the licensed bank” of the Attachment no.2 to the Instruction on the reporting of certain foreign exchange operations by the licensed banks, approved by the Decision of the Council of Administration of the National Bank of Moldova no.11 of January 22, 2009 (Official Monitor of the Republic of Moldova, 2009, no.47-48, Art.178).
(item 134 in the wording of the Decision of the NBM no.179 of 18.09.2014)
(item 134 competed by the Decision of the NBM no.233 of 27.10.2011)

 

Chapter IX. Some peculiarities of the foreign exchange entities’ activity
related to the legislation in the field of prevention and combating
money laundering and terrorism financing

135. The foreign exchange entities, while carrying out the currency exchange activity in cash with individuals, shall be obliged to implement the provisions of the Law on prevention and combating money laundering and terrorism financing no.190-XVI as of July 26, 2007 and of the normative acts worked out based on this law, which refer to the currency exchange activity.

136. The foreign exchange entity shall keep the documents related to the performed operations and identified individuals (the cash control register’s bands, the second copy of the foreign exchange bulletins, registers specified in Attachments no.9, no.10 and no.23, other documents related to the performed operations and identified individuals) at least 5 years after the operations are completed. Upon the request of the Office on prevention and combating money laundering, of the National Bank of Moldova, the period of keeping the documents shall be extended to the requested period.
(item 136 in the wording of the Decision of the NBM no.233 of 27.10.2011)

137. The foreign exchange offices, the hotels shall elaborate and implement its own program on prevention and combating money laundering and terrorism financing.

138. The recommendations on the elaboration by the foreign exchange offices and hotels of own programs on prevention and combating money laundering and terrorism financing are set out in Attachment no.28 to this Regulation.

1381. The foreign exchange office, the hotel shall have own program on prevention and combating money laundering and terrorism financing after obtaining the license of the National Bank of Moldova, but not later than the beggining of currency exchange activity in cash with individuals.
(item 1381 introduced by the Decision of the NBM no.233 of 27.10.2011)

 

Chapter X. The peculiarities of the control of the foreign exchange entities’ activity

Section 1. On-site control

139. The National Bank of Moldova shall perform on-site controls of the foreign exchange entities activity in cases provided for in paragraphs (2) and (3) Art.62 of the Law no.62-XVI as of March 21, 2008.

140. The on-site controls shall be performed by the control team, which consists of two or more inspectors – employees of the National Bank of Moldova.

141. For performing the on-site control, the members of the control team shall submit to the employees of the foreign exchange entity the following documents:
1) the written decision of the National Bank of Moldova (which remains at the foreign exchange entity) that shall contain at least: the number and the date of the decision; the name of the foreign exchange entity /its subdivision subject to control; its legal address /address of carrying out its activity; the type of control; the date of performing the control; names, surnames of the employees nominated to perform the control; the function, the name, surname and the signature of the person who issued the decision;
2) the service certificate of each member of the control team.
(item 141 modified by the Decision of the NBM no.143 of 21.06.2012)
(item 141 modified by the Decision of the NBM no.233 of 27.10.2011)

142. While performing on-site controls, the control team shall verify the observance by the foreign exchange entity of the provisions of the Law on foreign exchange regulation no.62-XVI as of March 21, 2008, of the Law on prevention and combating money laundering and terrorism financing no.190-XVI as of July 26, 2007 in the context of the currency exchange activity in cash with individuals, as well as of the normative acts worked out by the National Bank of Moldova on based on these laws.

1421. While performing on-site controls, the control team has the right to access to the premises of the foreign exchange entities, to their safes, to the information from the cash control registers and from other technical facilities used to carry out currency exchange operations, as well as the right to use technical means (audio, video, photo) and to attract one or more witnesses, in order to certify the found facts.
(item 1421 introduced by the Decision of the NBM no.143 of 21.06.2012)

1422. In the event of attracting a witness, this person may be an individual of full legal capacity, who is not interested in the results of the control, is not in relation of kinship with the inspectors of the National Bank of Moldova, employees and owners of the foreign exchange entity.
(item 1422 introduced by the Decision of the NBM no.143 of 21.06.2012)

1423. The witness is required to certify, by signing the act on the results of the  control, the facts (actions) in relation to the control, as well as to keep the secrecy of information constituting commercial secret, banking and other secret protected by law, of which the witness became aware during the control. The witness has the right to be informed on the reason why he/she is attracted as witness, to be familiarized with the decision on performing the control, to make comments on the content of the act on the results of the control in regard to the facts (actions) to which certification he/she attended.
(item 1423 introduced by the Decision of the NBM no.143 of 21.06.2012)

143. At the request of the control team, the employees of the foreign exchange entity shall print the consolidated fiscal documents and shall compile the reports on the performed operations in accordance with the form provided for in Attachment no.8 to this Regulation. The mentioned documents and reports shall include relevant data for the period from the beginning of the working day of the cashier until the time of control. The respective documents shall be attached to the copy of the control report that remains at the National Bank of Moldova. The copies of these documents shall remain at the foreign exchange entity.

1431. Based on the results of the control, the control team shall compile, in two copies, the act on the results of the control, in accordance with the form indicated in Attachment no.29 to this Regulation.
(item 1431 introduced by the Decision of the NBM no.143 of 21.06.2012)

1432. In the event of resistance to perform the control (refusal or disallowing access to the premises of the foreign exchange entity, to its safes, to the information from the cash control registers and from other technical facilities, any other obstacles from the employees of the foreign exchange entity or other persons to perform the control) and /or avoidance of submitting the information and of the documents requested during the control, this fact shall be indicated in the act on the results of the control.
(item 1432 introduced by the Decision of the NBM no.143 of 21.06.2012)

1433. The act on the results of the control shall be signed by the control team and by the authorized person of the foreign exchange entity. If the given person refuses to sign the act on the results of the control, the control team shall state the fact of refusal in the respective act. In the event of attracting the witness, the act on the results of the control shall be also signed by the respective witness, indicating on the last page the name, surname, patronymic, domicile (residence), the telephone number of the witness.
(item 1433 introduced by the Decision of the NBM no.143 of 21.06.2012)

1434. In the event the blank lines of the act on the results of the control are not sufficient to reflect the full information related to the results of the control, the indication of this information shall be continued on the additional sheets, which shall be attached to the respective act on the results of the control and shall be considered an integral part of the given act. Each additional sheet shall be signed by the control team and by the authorized person of the foreign exchange entity.
(item 1434 introduced by the Decision of the NBM no.143 of 21.06.2012)

1435. One copy of the act on the results of the control (with copies of attachments, if any) shall be handed over to the authorized person of the foreign exchange entity who signed the act on the results of the control /shall be sent to the foreign exchange entity subject to control,while the other copy (with attachments, if any) shall be kept at the National Bank of Moldova.
(item 1435 introduced by the Decision of the NBM no.143 of 21.06.2012)

144. The information on cases of infringement (identified during the control) of the provisions of the Law no.62-XVI as of March 21, 2008 and of this Regulation related to the application of cash control registers by the foreign exchange bureau of the licensed bank, the foreign exchange office /its branches, the foreign exchange bureau of the hotel, shall be transmitted by the National Bank of Moldova to the competent authorities in order to apply the appropriate measures according to the acting legislation.

Section 2. Off-site control

145. The National Bank of Moldova shall systematically perform off-site controls of the foreign exchange entities’ activity by verifying the reports submitted by foreign exchange entities according to the provisions of this Regulation, as well as, depending on the case, of other aspects related to the foreign exchange entities’ activity.

146. In case of infringements’ detection within the off-site control, except for those indicated in Articles 65 and 66 of the Law no.62-XVI as of March 21, 2008, the National Bank of Moldova, within 10 working days from the date of detection of infringements, may issue the prescription on the removal of the committed infringements by indicating the terms of its removal.

147. While receiving the prescription on the removal of the infringements, the foreign exchange entity shall be obliged to submit in writing to the National Bank of Moldova within the established term the respective explanations regarding the detected infringements and to inform on measures undertaken in order to remove these infringements.

148. Following the submission by the foreign exchange entity of the information specified in item 147 of this Regulation, the National Bank of Moldova may perform on-site control according to the provisions of the Law no.62-XVI as of March 21, 2008 and of section 1 of this chapter, for the purpose of verifying the fulfillment by the foreign exchange entity of the requirements regarding the removal within the term of the detected infringements.

 

Chapter XI. The peculiarities of the application of sanctions

Section 1. General provisions on the application of sanctions

149. In case of infringement of the provisions of the Law no.62-XVI as of March 21, 2008, of the Law on prevention and combating money laundering and terrorism financing no.190-XVI as of July 26, 2007, of this Regulation and of other normative acts of the National Bank of Moldova elaborated on the basis of these laws, regarding the activity of the foreign exchange offices and foreign exchange bureaux of the hotels, the National Bank of Moldova, depending on the identified infringements, may apply to the license holder the sanctions established under paragraph (3) Art.63 of the Law no.62-XVI as of  March 21, 2008.

150. The decision on suspension of the license holder s activity and on withdrawal of the license shall be adopted by the Council of Administration of the National Bank of Moldova.

151. In case of infringements detected within the on-site control, the decision on sanctions shall be taken on the basis of the control report and on the basis of the results of examination of the  grounds for disagreement of the foreign exchange entity with the results of the performed control, if these grounds were submitted.
(item 151 modified by the Decision of the NBM no.143 of 21.06.2012)

Section 2. The warning

152. The license holder, while receiving the warning, shall be obliged to remove, within the established period, the circumstances that led to the issuance of the warning and shall submit to the National Bank of Moldova the information on the removal of the mentioned circumstances, specifying the measures undertaken for this purpose.

Section 3.The suspension and the resumption of the currency exchange activity

153. The partial suspension of the activity of the foreign exchange office represents the suspension of the activity of one or more branches of the foreign exchange office and /or of the head office.

154. The total suspension of the activity of the foreign exchange office represents the suspension of the activity of the head office and of all branches of the foreign exchange office.

155. The decision of the National Bank of Moldova on the suspension of the activity of the foreign exchange office and of the foreign exchange bureau of the hotel shall be notified to the license holder by handing over /sending the copy of the respective decision. The copy of the decision shall be handed over to the administrator of the license holder or to the person authorized by him, upon signature, while the sending shall be made by a registered letter.

156. Unless otherwise is specified in the decision of the National Bank of Moldova on the suspension of the activity of the foreign exchange office or of foreign exchange bureau of the hotel, within 3 working days from the date of receiving this decision the license holder shall undertake the actions specified in item 157 or item 158 of this Regulation.

157. The foreign exchange office shall be obliged:
1) in case of total suspension of the currency exchange activity in cash with individuals:
a) to suspend the activity of the head office and of all its branches,
b) to inform in writing the National Bank of Moldova on the suspension of the activity of the head office and of all its branches, attaching the original license and the authorized copies of the license of all branches,
c) to display on a visible spot of the head office and of all its branches the notices on the suspension of the activity on the basis of the decision of the National Bank of Moldova, indicating the period of suspension,
d) to deposit funds held in Moldovan Lei and in foreign currency on its accounts, including, if exists, on accounts of its branches opened with licensed banks,
e) to submit to the National Bank of Moldova the documents issued by the licensed banks (on the letter-head, authenticated by the signatures of the administrator, chief accountant and by the stamp the respective bank), that confirm the depositing of funds mentioned in sub-item d) (indicating the amount and the date of depositing the mentioned funds on the respective accounts, the respective account number and other information that bank considers necessary to indicate), as well as that the respective bank was informed by the foreign exchange office on the total suspension by the National Bank of Moldova of its activity, by submission a copy of the decision of the National Bank of Moldova on the suspension;
2) in case of the partial suspension of the currency exchange activity in cash with individuals:
a) to suspend the activity of the head office and /or branches indicated in the decision of the National Bank of Moldova,
b) to inform in writing the National Bank of Moldova on the suspension of the activity of the head office and /or of the respective branches, attaching the original authorized copy /copies of the license of the branch/branches,
c) to display on a visible spot of the head office and /or of the respective branches, the  notices on the partial suspension of the activity on the basis of the National Bank of Moldova, indicating the period of suspension,
d) to deposit funds in Moldovan Lei and in foreign currency held by the head office and/or by the respective branches on the accounts of the foreign exchange office, including, if exists, on the accounts of its branches opened with licensed banks,
e) to submit to the National Bank of Moldova the documents issued by the licensed banks (on the letter-head, authenticated by the signatures of the administrator, chief accountant and by the stamp of the respective bank), that confirm the depositing of funds mentioned in sub-item d) (indicating the amount and the date of depositing the mentioned funds on the respective accounts, the respective account number and other information that bank considers necessary to indicate), as well as that the respective bank was informed by the foreign exchange office on the partial suspension by the National Bank of Moldova of its activity, by submission a copy of the decision of the National Bank of Moldova on the suspension.
(item 157 modified by the Decision of the NBM no.233 of 27.10.2011)

158. In case of suspension of the activity of the foreign exchange bureau of the hotel, the hotel shall be obliged:
a) to suspend the activity of the foreign exchange bureau;
b) to inform in writing the National Bank of Moldova on the suspension of the activity of the foreign exchange bureau, attaching the original license;
c) to display on a visible spot of the foreign exchange bureau a notice on the suspension of the activity following the decision of the National Bank of Moldova, indicating the period of suspension.

159. The license holder shall be obliged to remove within the established period the circumstances that led to the suspension of the activity and to notify the National Bank of Moldova on the removal of the mentioned circumstances, specifying the measures undertaken with this purpose.

160. Following the submission by the license holder of the notice specified in item 159 of this Regulation, in order to verify the fulfillment by the foreign exchange entity of the requirements of removal in due time of circumstances that led to the suspension of the activity, the National Bank of Moldova may perform the on-site control according to the provisions of the Law no.62-XVI as of March 21, 2008 and of section 1 of chapter X of this Regulation.

161. On the basis of the information from the received notice and, where appropriate, the control report and the written grounds of the disagreement of the license holder with the results of the performed control, if it was submitted, the decision on the resumption of the suspended activity shall be adopted. The decision shall specify the resolution on the resumption of activity or on the application of other sanctions according to Art.65 or 66 of the Law no.62-XVI as of March 21, 2008.

162. The decision of the National Bank of Moldova on the resumption of the suspended activity shall be notified to the license holder by handing over /sending the respective decision. The decision shall be handed over, upon signature, to the license holder’s administrator or to the person authorized by him, while the sending shall be made by a registered letter .

163. If the decision of the National Bank of Moldova provides for the resumption of the suspended activity, to this decision shall be attached, depending on the case, the original documents indicated in sub-item b) paragraph 1), sub-item b) paragraph 2) item 157 and sub-item b) item158 of this Regulation.

164. The funds of the foreign exchange office deposited on the account/accounts in accordance with sub-item d) paragraph 1) and sub-item d) paragraph 2) item 157 of this Regulation may be withdrawn from the account /accounts in order to perform currency exchange operations in cash with individuals only upon submitting by the respective foreign exchange office of the decision of the National Bank of Moldova on the resumption of the suspended activity and of the original license of the foreign exchange office, as well as, depending on the case, the original authorized copies of the license.

1641. The information on the suspension of the activity of the foreign exchange office / the foreign exchnage bureau of the hotel shall be published on the official website of the National Bank of Moldova.
(item 1641 introduced by the Decision of the NBM no.233 of 27.10.2011)

Section 4. Withdrawal of the license

165. The decision of the National Bank of Moldova on the withdrawal of the license shall be notified to the foreign exchange office or to the hotel by handing over/sending the copy of the respective decision. The copy of the decision shall be handed over, upon signature, to the license holder’s administrator or to the person authorized by him, while the sending shall be made by a registered letter.

166. In case of the withdrawal of the license the foreign exchange office shall be obliged:
a) to terminate definitively the currency exchange activity in cash with individuals at the head office and at all its branches;
b) to inform in writing the National Bank of Moldova on the definitive termination of the activity of the head office and of all its branches, attaching the original license and the  authorized copies of  the license of all branches.

167. In case of the withdrawal of the license, the hotel shall be obliged:
a) to terminate definitively the activity of the foreign exchange bureau;
b) to inform in writing the National Bank of Moldova on the definitive termination of the activity of the foreign exchange bureau, attaching the original license.

168. The information on the withdrawn license shall be published on the official website of the National Bank of Moldova.
(item 168 in the wording of the Decision of the NBM no.233 of 27.10.2011)

Subscribe to Newsletter
CAPTCHA
This question is for testing whether or not you are a human visitor and to prevent automated spam submissions.