March Financial Services Committee Updates

March Financial Services Committee Updates

• 01.04.2016

These weeks, the focus of the Financial Services Committee was the banking sector. March started with a series of meetings with EU experts and MasterCard representatives to discuss the mechanisms designed to promote the use of non-cash payments. In the meantime, AmCham addressed to the National Bank a series of recommendations aimed at improving the proposed amendments to the Regulation on Payment Cards. Later on, the committee started the initiative for exclusion of use of the cash registers (MCC) for currency exchange transactions performed within banks.

AmCham member companies had the opportunity to meet with NCFM representatives to discuss the peculiarities of implementation of the National Accounting Standard ”Presentation of Financial Reports of the savings and loan associations, and other nonbanking financial organizations. The Committee Chairs met the EU High Level Advisor on Financial Market to share private sector’s view on the prospective for development of the microfinance and leasing sector.

A special effort was dedicated to the analysis of the draft Law on Venture Capital Funds. AmCham Moldova came with a series of recommendations aimed at aligning the bill to the EU provisions.

If you have any questions regarding the activity of the Financial Services Committee, please contact Adrian Gheorghita, Deputy Director for Advocacy and Business Development at 211 – 781 or adriangheorghita@amcham.md.