Romania and Rep. Moldova conclude collaboration protocol in financial education area

Romania's Financial Supervisory Authority (ASF) and the National Commission for Financial Markets of the Republic of Moldova concluded a collaboration protocol in the financial education area, the ASF announced on Tuesday.

The objectives of the protocol mainly aim to create a common institutional framework to ensure the improvement of the financial education of the financial markets representatives and non-banking financial services consumers of the Republic of Moldova. This also ensures an adequate protection of their rights and interests.

"We will also share our experience with the partners of the Republic of Moldova in terms of financial education. On a global financial market, it's very important to have very well informed and educated consumers. Only this way we can successfully implement the development strategies for the non-banking financial markets," head of the ASF Leonardo Badea stated.

According to the ASF release sent to Agerpres, the financial education programmes will be carried out at several levels: at the education system level (primary, secondary, high school and university) by carrying out some programmes and projects adapted to each cycle, at a general level by producing informative materials (DVDs, flyers, brochures) that will be distributed to participants in educational activities, as well as by developing an IT platform that will contain data on the financial education events and programmes that are addressed to the population.

"The main purpose of this initiative aims to create a financial culture of consumers that contributes to a better understanding of financial concepts and mechanisms. Early education is very important in this area, this is why we will focus our activities on the education system," First Vice-President of the ASF Ovidiu Wlassopol stated.

Furthermore, the collaboration protocol also includes the drawing up of a study regarding the Republic of Moldova's financial education level, as well as applying some projects to improve the National Financial Education Strategy.

The ASF is the national authority, established in 2013 through the OUG 93/2012, approved by the Law No.113/2013, for the regulation and supervision of insurance markets, private pensions and capital market. The ASF contributes to strengthening the integrated operating framework of the three sectors, accounting for more than 10 million participants.