What is the Instant Payments System MIA? Why was it necessary to develop and launch the Instant Payments System MIA?  What are the benefits of Instant Payments System MIA? etc.

The National Bank of Moldova (NBM) is launching a series of financial education activities as part of the international campaign “Global Money Week”, scheduled to unfold from 18 to 24 March.

The International accounts of the Republic of Moldova comprise the balance of payments, international investment position and gross external debt, the compilation of which is one of the core functions of the National Bank of Moldova (according to the Law on the National Bank of Moldova no.548-XIII of 21 July 1995).

Financial stability is the condition of the economy characterized by the absence of major imbalances, which could lead to systemic crises, the inability of financial institutions to conduct operations uniformly or the collapse of financial markets. 

The RR is a complementary instrument of the monetary policy, which is used to control the level of excess liquidity as well as to mitigate its impact on interbank interest rates.

The banking sector in Republic of Moldova consists from two levels: the NBM and commercial banks. The activity of the NBM, as a regulating and supervising authority for banks is based on the Law on the NBM. Law on Financial institutions is the basic law governing the activities of financial institutions, including banks.

The first national campaign for financial inclusion related to promotion of the non-cash payments, with financial support of the European Fund and Development Facility for South - East Europe (EFSE).

The NBM, acting as the fiscal agent of the Ministry of Finance, is in charge of the management of primary and interbank secondary market of state securities issued in book-entry form on the domestic market.

The NBM is the central bank of the Republic of Moldova and exercises its attributions as a legal, public, autonomous person responsible to the Parliament.

The official reserve assets (identical with international gross reserves) are assets available at any time and managed by the National Bank of Moldova with the purpose of direct financing of the balance of payments imbalances and for indirect adjustment of balance of payments disequilibrium.

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The National Payment System is a complete set of instruments, intermediaries and rules, which facilitate the flow of money in a country, consisting of a set of rules and payment instruments, institutions and technical mechanisms for the transfer of funds, which is an integral part of monetary system in an economy.

The NBM oversees the payment system and facilitates the effective functioning of the inter-bank payment system as well as licenses, regulates and oversees the activity of payment services providers and electronic money issuers, including non-bank providers and issuers.

The purpose of oversight is to ensure the stability and efficiency of payment and settlement systems and to ensure efficiency and security of cashless payment instruments and E-banking systems.

The non-cash foreign exchange market of the Republic of Moldova is determined by the turnover of purchase/sale transactions of the foreign currency that have taken place on different segments of the market, except those performed by the National Bank of Moldova.

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The activity of the NBM on the foreign exchange market (foreign exchange interventions) is performed in strict compliance with the monetary and foreign exchange policy objectives.

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Acting as fiscal agent of the State, the NBM organizes the functioning of an over-the-counter secondary market of state securities and collects information regarding the elements of transactions with state securities on the secondary market.

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The SS market of the Republic of Moldova is organised through via banks – Primary Dealers, which have concluded with the National Bank of Moldova (NBM) agreements on fulfilling the functions of a Primary Dealer in the market of state securities.

The average interest rates are rates for state securities placed on the primary market.

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