18.09.2024

Central Bank Board Members at a Regional Conference in Chișinău

National Bank of Moldova (NBM), the International Monetary Fund (IMF), and the Center for Excellence in Finance (CEF) brought together the executive and non-executive central bank board members as well as other senior representatives from the central banks in South East Europe to address the governance, risk management and communication challenges that central banks face in the current changing landscape.

In the opening session, Ms. Anca-Dana Dragu, Governor of the NBM, declared: „Our responsibility is to ensure that central banks not only adequately respond to crises, but also proactively adapt to market dynamics, thus strengthening long-term financial stability". Ms. Jana Repanšek, CEF Director, highlighted the link between a learning organization and governance and stressed on the importance of the conference topics, the exchange of experience and cooperation among participants from central banks in South East Europe − Central Bank of Albania, Central Bank of the Republic of Kosovo, Central Bank of Montenegro, Central Bank of Bosnia and Herzegovina, Croatian National Bank, National Bank of the Republic of North Macedonia, National Bank of Romania, National Bank of Ukraine, NBM − as well as the IMF and CEF.

To lay the foundations of the conference, the participants tackled different models related to the roles and responsibilities of executive and non-executive (supervisory) board members. They also discussed about the risk management and the current challenges, in particular cybersecurity and fintechs. Through the perspective of the Central Bank Transparency Code (CBT) of the IMF, they exchanged on approaches and experiences with the CBT tool. Conference participants also reflected on the key (EU) central bank legal developments affecting mandates, decision-making, and independence of central banks.

The conference was part of the NBM project − Transformation into a Learning Organization (NBM LearnOrgLab). It took place on September 17-18, 2024, in Chișinău, Moldova.