OREANDA-NEWS.  October 03, 2012. According to the press release of NBM, implementation of the Strategy Plan is to increase abilities of NBM in solving problems the body faces and to strengthen the role of the Central Bank in the society.

The Strategic Plan of NBM for 2013-2017 is aimed at consolidating all activities of the National Banks and identifies goals of the Bank for the long-term prospect. Ten key priority areas of the Bank include ensuring stability in prices, raising confidence in the national currency, developing supervisory abilities of NBM, promoting cashless payments and reducing cash in circulation, consolidating financial stability, improving external communication, image of and confidence to NBM, increasing efficiency of toe operational activity, optimizing human resources management and developing corporative culture.

The Plan identifies a set of measures to achieve the goals established and gives response to possible challenges in order to adapt to possible changes and enhance contribution of NBM in the economic development of Moldova. For example, the document stipulates strengthening of the mechanism of control inflation and promotion of cashless payments, brings requirements of the prudential supervision over the banking sector closer to international standards, provides modernization of the data system in line with best European IT technologies, etc.

To achieve its main goal, namely to maintain and ensure price stability, NBM is expected to revise its monetary policy. The National Bank of Moldova is going to take measures to increase confidence in the national currency and its share in the total turnover of transactions. To monitor external payments the SWIFT Fin Inform services is to be put into practice.

The National Bank of Moldova is going to identify most effective ways to implement the Basel II agreement. Achieving this goal requires amendments to the law and development of new regulatory frameworks concerning adequacy of the banking capital and meeting EU standards. NBM is going to further analyze risks in the banking system to ensure the financial stability.