Financial Services Committee

Committee Addresses the Authorities

Events, Meetings & Activities

Mission

To enhance the Moldovan financial system by acting as a lobby and advocacy group, to identify and promote issues related to and in support of the financial services sector, to provide a forum for dialogue among sector professionals and decision-makers in government, as well as to serve as an educational, networking and information exchange forum for the finance community.

The Financial Services Committee has created a channel for dialogue between AmCham’s members and important financial institutions in Moldova - including the Ministry of Finance. The Financial Services Committee provides an active platform for AmCham Member Companies involved in the sphere of Financial Services to not only bear an influence on the current and future decisions made by Moldovan law-makers related to the industry but to also train and educate each other on developments and best practices in the field.

Want to take part in the Financial Services Committee? Contact committee Coordinator Dorel Noroc, dorelnoroc@amcham.md for more information. 

About the Committee

The Committee is conceived as a place for companies representing the financial industry (e.g. banks, microfinance and leasing companies), but also consulting and other companies involved in activities related to the financial sector.

Committee members participate in Committee events and meetings, and take an active role in Committee's activity, thus contributing to the enhancement of business- and investment-friendly financial regulatory framework in Moldova, harmonized with the best international practices.
  

Purpose and Goals

The purpose and goals of the Financial Services Committee are to promote Moldovan financial services business opportunities through regulatory lobbying activities and information exchange in the interests of AmCham members working in the Moldovan Financial Services sector.

The Committee will work on topical issues which are relevant and significant to businesses. By raising awareness, stimulating development and lobbying for change, it hopes to strengthen Moldovan financial market and make Moldovan economy more competitive.

In addition, the focus on the following objectives should be maintained: 

• Access the legislative drafting process at an early stage and leverage the opportunity to incorporate private sector feedback into key drafts;
• Proactive approach in drafting and advising on implementation of financial sector normative acts. Present the private sector support and view on rules and procedures, together with recommendations and examples of best international practices to relevant counterpart organizations.
• Bringing greater understanding of the Moldovan financial system 
• Encouraging the unofficial flow of money into the legitimate financial system
   

Plan of Activities

1. Closely collaborate with AmCham Tax & Legal Committee, thus helping to improve tax, customs and regulatory framework affecting financial sector activity 
2. Establish constructive dialogue with the Ministry of Finance, National Bank of Moldova and National Commission of Financial Market, as well as become a reliable partner for these authorities 
3. Review and comment draft legislation and address the Government to raise awareness regarding the proposed or existing legislation framework with sometimes adverse effect on financial sector business. 
4. Collaborate with AmCham Board of Directors on AmCham‘s projects aimed to improve the investment climate, as well as with other organizations 
5. Provide a platform for networking and exchange of best-practices 
    

Committee Communication

Financial Services Committee will meet on the premises of member companies on a rotating basis or at AmCham, for committee meetings, and roundtable discussions on various issues that affect the industry. The Committee may also envisage inviting outside speakers, if appropriate.

The committee coordinator will regularly inform members of Committee activity and will also contribute to AmCham Weekly Bulletins, Business Reviews, Annual reports, Web site etc.
 

The committee as a part of AmCham 

The Committee is a part of AmCham and therefore shares AmCham's mission and its values.

In that spirit, no Committee member, including Co-Chairs, shall express personal views on behalf of the Committee and therefore the AmCham, unless they represent an official and approved position by the Board of Directors.

No Committee member shall in the name of Committee or AmCham discuss issues that are not related to its mission. All activities of the Committee shall be done in direct coordination and communication with AmCham Committee Coordinator.