The corresponding draft amendments to this law were adopted today by Parliament in the second reading. Fifty-nine members of Parliament voted in favor. The document was drafted by the National Bank of Moldova.
Thanks to this bill, Moldova will update and improve the effectiveness of its legal and regulatory framework governing financial guarantee agreements. It will also bring this framework into line with European Union legislation.
Victoria Belous, Chair of the Parliamentary Committee on Economy, Budget, and Finance, clarified during today’s plenary session of the legislature that the bill fully transposes the EU Directive on financial guarantee contracts into national law.
The bill is part of the measures outlined in Moldova’s National Program for Accession to the European Union for 2025–2029.
The document expands the category of entities subject to the Law on Financial Guarantee Contracts. Specifically, this category will include non-bank payment service providers, collective investment undertakings in securities, and investment management companies.
At the same time, the Deposit Insurance Fund in the banking system will be included in the list of entities that may act as providers of financial guarantees.
