The new strategic plan of the National Bank of Moldova (BNM) sets medium-term objectives and covers the years 2018-2020 [1]. The planning period has been reduced from five to three years in order to operationalize the strategic plan and articulate it more harmoniously with the dynamic development of the regulatory framework and rapid technological innovations in banking.
The new strategic plan prioritizes the objectives of the National Bank in five key areas: optimizing monetary policy, promoting financial stability through the application of new macroprudential management tools, strengthening the banking sector and implementing risk-based supervision (according to Basel III principles), increasing the quality of the national currency and non-cash payments, as well as strengthening the capacity and efficiency of the National Bank. The formulated objectives involve transversal management, with the involvement of several NBM departments in the same project, which will contribute to the efficiency of internal functioning and communication. Another innovative element was the inclusion in the 2018-2020 strategic plan of some objectives that partly belong to the competence of other national authorities. Through this initiative, the NBM assumes the role of promoter of reforms of national importance through inter-institutional cooperation and dialogue with other state authorities.
The adoption of the new strategic plan marks an important stage in the reforms promoted by the National Bank in recent years. After a period of radical changes in the banking field in recent years, the NBM will dedicate itself to the diffusion and deepening of their effects in the financial-banking system with the aim of improving the transmission of monetary policy, favoring the modernization and healthy growth of the banking sector and, finally , to increase the NBM's contribution to the sustainable economic development of the Republic of Moldova.