National Bank of Moldova outlines foreign exchange liberalization raising authorization thresholds to EUR 100,000 from November

The National Bank of Moldova (NBM) has outlined legislative changes easing foreign exchange requirements for residents as Moldova aligns its capital movement rules with those of the European Union. From Nov. 20, 2026, the threshold for specified transactions without NBM authorization rises from EUR 10,000 to EUR 100,000 or the equivalent in another currency. Covered transactions include purchases of foreign financial instruments, loans and guarantees to nonresidents, and certain overseas accounts and transfers. The monthly limit on foreign currency cash withdrawals abroad using cards issued by Moldovan banks also rises to EUR 100,000 per account. Both thresholds increase to EUR 250,000 on Jan. 1, 2028. The card withdrawal changes do not alter rules on carrying cash across borders. Other changes taking effect on Nov. 20 remove authorization requirements regardless of amount for purchases of foreign financial instruments during their admission to Moldova’s capital and money markets. Investment firms, nonbank lenders, insurers and reinsurers may lend to nonresidents without NBM authorization, subject to their sectoral rules and limits. Resident nonbank payment providers may open foreign bank accounts needed for licensed activities without additional authorization. Foreign currency payments will also be permitted for resident individuals at qualifying airport outlets and for nonresident individuals paying Moldovan hotels. Currency exchange offices and hotels licensed for currency exchange may provide payment services after registering as agents of licensed payment institutions or electronic money issuers. Registered outlets may also distribute and redeem electronic money, but must keep customer funds for these services separate from currency exchange funds. From Oct. 1, 2027, the notification regime for covered loans and credits received from nonresidents will end. Existing notification and external liability reporting obligations remain applicable until then. Separately, the NBM has begun developing statistical reporting rules for external borrowing and lending to preserve the data needed as authorization and notification procedures are removed. Liberalization is accompanied by stronger controls: from Nov. 20, the NBM may refuse authorization where a transaction risks the loss of correspondent banking relationships or international sanctions against the NBM or resident payment providers. It may also impose concurrent sanctions for separate currency exchange violations, with expanded grounds for license withdrawal. Banks and other payment providers must continue applying anti-money laundering and counterterrorist financing checks.