Moldova Financial Sector Assessment Program : Technical Notes

Moldova declared its independence in August 1991 and adopted its current constitution in July 1994. Over the intervening decade, the legal framework governing the regulation and supervision of the country's financial and business sectors has u...

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Main Authors: World Bank, International Monetary Fund
Format: Report
Language:English
English
Published: World Bank, Washington, DC 2021
Subjects:
Online Access:http://documents.worldbank.org/curated/en/586881468057373495/Moldova-Financial-sector-assessment-program-technical-note
http://hdl.handle.net/10986/36218
id okr-10986-36218
recordtype oai_dc
spelling okr-10986-362182021-09-01T05:10:40Z Moldova Financial Sector Assessment Program : Technical Notes World Bank International Monetary Fund FINANCIAL SECTOR LEGISLATION AND REGULATION FOREIGN CURRENCY RESERVE FINANCIAL SITUATION INSOLVENCY AND CREDITOR RIGHTS CENTRAL BANKING LAW LICENSE REQUIREMENT NATIONAL PAYMENT SYSTEM ANTI MONEY LAUNDERING MEASURES CIVIL PROCEEDINGS BUSINESS REGISTRATION COURT SYSTEM Moldova declared its independence in August 1991 and adopted its current constitution in July 1994. Over the intervening decade, the legal framework governing the regulation and supervision of the country's financial and business sectors has undergone significant reform. However, Moldova has lagged behind in the creation of a business-friendly legal and tax environment. Recent reports and surveys have confirmed that the risks and costs of doing business are high and that administrative burdens of all kinds are excessive. Access to finance is limited and regulatory compliance costs are amongst the highest in the region. Moldova might wish to emulate the practice of India, for example, where the authorities have sought to address this issue by requiring inspection officials to complete a logbook at the premises of the company undergoing inspection, explaining why they are inspecting and summarizing their findings. To their credit, the Moldovan authorities have recognized many of the major areas in need of review and restructuring and have embarked upon an ambitious legal reform agenda. 2021-08-31T15:00:07Z 2021-08-31T15:00:07Z 2005-02 Report http://documents.worldbank.org/curated/en/586881468057373495/Moldova-Financial-sector-assessment-program-technical-note http://hdl.handle.net/10986/36218 English en CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank World Bank, Washington, DC Economic & Sector Work Economic & Sector Work :: Financial Sector Assessment Program Europe and Central Asia Europe and Central Asia Moldova
repository_type Digital Repository
institution_category Foreign Institution
institution Digital Repositories
building World Bank Open Knowledge Repository
collection World Bank
language English
English
topic FINANCIAL SECTOR
LEGISLATION AND REGULATION
FOREIGN CURRENCY RESERVE
FINANCIAL SITUATION
INSOLVENCY AND CREDITOR RIGHTS
CENTRAL BANKING LAW
LICENSE REQUIREMENT
NATIONAL PAYMENT SYSTEM
ANTI MONEY LAUNDERING MEASURES
CIVIL PROCEEDINGS
BUSINESS REGISTRATION
COURT SYSTEM
spellingShingle FINANCIAL SECTOR
LEGISLATION AND REGULATION
FOREIGN CURRENCY RESERVE
FINANCIAL SITUATION
INSOLVENCY AND CREDITOR RIGHTS
CENTRAL BANKING LAW
LICENSE REQUIREMENT
NATIONAL PAYMENT SYSTEM
ANTI MONEY LAUNDERING MEASURES
CIVIL PROCEEDINGS
BUSINESS REGISTRATION
COURT SYSTEM
World Bank
International Monetary Fund
Moldova Financial Sector Assessment Program : Technical Notes
geographic_facet Europe and Central Asia
Europe and Central Asia
Moldova
description Moldova declared its independence in August 1991 and adopted its current constitution in July 1994. Over the intervening decade, the legal framework governing the regulation and supervision of the country's financial and business sectors has undergone significant reform. However, Moldova has lagged behind in the creation of a business-friendly legal and tax environment. Recent reports and surveys have confirmed that the risks and costs of doing business are high and that administrative burdens of all kinds are excessive. Access to finance is limited and regulatory compliance costs are amongst the highest in the region. Moldova might wish to emulate the practice of India, for example, where the authorities have sought to address this issue by requiring inspection officials to complete a logbook at the premises of the company undergoing inspection, explaining why they are inspecting and summarizing their findings. To their credit, the Moldovan authorities have recognized many of the major areas in need of review and restructuring and have embarked upon an ambitious legal reform agenda.
format Report
author World Bank
International Monetary Fund
author_facet World Bank
International Monetary Fund
author_sort World Bank
title Moldova Financial Sector Assessment Program : Technical Notes
title_short Moldova Financial Sector Assessment Program : Technical Notes
title_full Moldova Financial Sector Assessment Program : Technical Notes
title_fullStr Moldova Financial Sector Assessment Program : Technical Notes
title_full_unstemmed Moldova Financial Sector Assessment Program : Technical Notes
title_sort moldova financial sector assessment program : technical notes
publisher World Bank, Washington, DC
publishDate 2021
url http://documents.worldbank.org/curated/en/586881468057373495/Moldova-Financial-sector-assessment-program-technical-note
http://hdl.handle.net/10986/36218
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