A bill that, among other things, provides for amendments to the Law on Credit and Savings Associations has been approved by the government.
Currently, the regulatory framework restricts access to membership in such organizations. Only Moldovan citizens and stateless persons may participate in them, excluding other foreigners with legal status.
This restriction creates difficulties in accessing financial services for foreign residents of the Republic of Moldova and is particularly felt in local communities, where such associations represent the primary means of accessing finance.
The category of “foreigners with a residence permit” includes both stateless persons and foreigners who have the right to stay in Moldova or are entitled to international protection.
The draft law on the integration of foreigners provides for amendments to a number of regulatory acts and is driven by the need to revise and improve them. It takes into account the latest developments and trends in the field of migration and asylum.
These adjustments will improve access to existing integration mechanisms by providing services such as issuing loans, accepting fixed-term and open-ended savings deposits, offering related loan services and consultations, and more.
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