In order to minimize the risk of non-repayment of loans and related problems for the lender and the borrower, the National Bank of Moldova approved the Regulation on responsible consumer lending.
The purpose of the regulation is to ensure the possibility for individuals to integrate installment payments in a balanced way into their monthly budget and to conclude loans that they will be able to repay easily. According to the Regulation, before entering into a loan and/or finance lease agreement with a consumer, the creditor must:
– Evaluate the consumer’s creditworthiness based on information from official sources confirming income, credit commitments made, and other information available to the creditor that may affect the consumer’s creditworthiness;
– be predominantly guided by the principle of preventing any delays in payments, non-repayment of loans or the exercise of liens;
– be based primarily on the principle of repaying the loan from the consumer’s verified income, rather than enforcing foreclosures, changes in value, or other assets of the consumer;
– ensure that the consumer’s ability to fulfill his or her obligations under the loan agreement is not based on expectations of increased income.
The document comes into force on June 18.
Earlier it was reportedthat in 2025 the National Commission on Financial Market (NCFM) revised more than 3 thousand loan agreements, protecting the interests of consumers, and introduced new standards of protection in the financial market.
