Previously, the decision on recall was made only by the Parliament. It is proposed to make this process two-stage: the Parliament makes a proposal and the final decision is made by the President of the Republic of Moldova.
The MPs will have to consider the relevant draft law in the first reading at one of the next sittings on November 27 or 28. On Friday evening, November 21, the Parliamentary Standing Bureau approved the agenda of the sittings, including this draft law. It was proposed by the previous government.
“Any member of the Supervisory Board or the Executive Committee may be dismissed by the President of the Republic of Moldova, on the proposal of Parliament, /…/ only if he no longer meets the conditions necessary for the fulfillment of his duties or if he has committed a gross misdemeanor,” is the new wording of the relevant article of the law. Currently, only Parliament can do this, and the amendment places this important function in the hands of the president.
In its response to the draft law, the NBM noted that it lacks a clear mechanism and procedure of actions in case the President of the Republic of Moldova refuses to be recalled.
“Accordingly, in the described situation, it is not clear what actions the Parliament can take as a result of the President’s rejection of the proposal to revoke the member,” the National Bank notes.
The Parliamentary Commission for Economy, Budget and Finance, which both in the past and in the current convocation is headed by PAS deputy Radu Marian, earlier supported this draft.
This draft law also proposes to increase the requirements for candidates to the Supervisory Council. The main focus of the innovations is competencies in cybersecurity and risk management. Now the members of the Oversight Board must have at least ten years of experience in finance, law or audit, or work in the scientific or academic field. Once the changes take effect, the requirements will become more demanding. They will also need to have experience in risk management and cybersecurity or work in a scientific or academic position in these areas.
This “tail” stretches back to the last convocation: the draft Law on amending the Law on the National Bank of Moldova (aspects of institutional management) was registered as early as December 4, 2024.
