The National Bank of Moldova published a draft Executive Committee decision to amend its regulations governing licensing and registration of payment institutions and electronic money institutions, setting out a specific licensing pathway for branches in Moldova of non-bank payment service providers established and licensed in a European Union member state. The draft would update cross-references in the Regulation on qualifying holdings in non-bank payment service providers and amend the licensing and registration regulation to explicitly reflect Law No. 114/2012 provisions, including Article 172. It would add new provisions requiring an EU-licensed non-bank payment service provider’s Moldovan branch to apply for a licence with the documents and information specified in Article 172(2) of Law No. 114/2012, and would allow licensing only where the cumulative conditions in Article 15(1)(3) and (6)–(8) and Article 15(2) are met. Qualifying shareholders in the EU provider would be assessed under the Regulation on holdings in non-bank payment service providers, while members of the branch’s management bodies and key function holders would be assessed under the fit and proper requirements in Chapter V. The draft decision provides that the amendments would enter into force one month after publication in the Official Gazette of the Republic of Moldova.
National Bank of Moldova 2025-06-26
National Bank of Moldova proposes licensing requirements for branches of EU-licensed non-bank payment service providers
The National Bank of Moldova issued a draft decision to amend regulations for licensing payment and electronic money institutions, creating a licensing pathway for EU-licensed non-bank payment service provider branches in Moldova. The amendments align with Law No. 114/2012, requiring specific documentation and compliance for licensing. The changes take effect one month after publication in the Official Gazette of the Republic of Moldova.