Methodology of research. For the elaboration of the article general scientific knowledge of economic principles was applied, as well as concrete historical approaches that would allow the consideration of development phenomena and processes. The techniques used were: induction, deduction, comparison methods, synthesis and analysis. Strategies of banking supervision that will be implemented by the Central Bank The modernization of the banking sector in the Republic of Moldova through the implementation of the Basel III requirements that already was applied by many countries, including the EU states through the CRD IV and CRD package, will be performed through the efficient use of resources, with the support of donors and external partners, optimal solutions for the development of internal risk management systems in banks, as well as by filing relevant information about this process for the banks involved. In accordance with the banking legislation, the NBM has created the banking supervision and regulation mechanism by establishing a series of specific requirements stipulated in national normative acts, which banks are obliged to observe. These requirements are constantly improved to ensure compliance with the provisions of the legislation, with generally accepted international principles and best practices, in particular with the recommendations of the Basel Committee on Banking Supervision and European Union Directives. Based on generally accepted standards, the NBM promotes an active policy in the field of regulation and supervision of banks' activity through: Establishing banks' authorization criteria, capital requirements, exigencies with owners and their shares, and bank managers; Establishing the requirements to ensure the high quality and functionality of banks' internal control systems, including procedures for preventing and combating money laundering; Establishing and supervising compliance with prudential requirements to ensure banks' exposure to risks; Undertaking actions related to the application of corrective measures, sanctions, the introduction of special supervision or, as the case may be, special administration for solving problems with banks with increased vulnerabilities. The reform plan, as well as the changes in the regulation in the field of banking supervision in the context of the implementation of the Association Agreement between the Republic of Moldova and the European Union, the National Bank of Moldova will focus its efforts to implement the ...
Methodology of research. Owing to the unique nature of this research and its novelty in contemporary legal arena, a hybrid approach of both doctrinal and non-doctrinal methods of research has been adopted. Firstly, the study utilizes primary data such as laws, gazettes, collection of legal documents within and outside Government departments. In addition data obtained from informal interviews with some experts has been incorporated. Secondary data in form of literature on the subject and relevant books and publications have been employed. As the development of the sub sector is at its infancy, not much local data or publications is available and recourse has had to be made in certain cases to publications in petroleum resources development as the two sub sectors, apart from being mining sectors have the same stages of processing and exploitation.
