The coverage level for bank deposits has been increased from 100 thousand lei to 200 thousand lei as of January 1, the Deposit Guarantee Fund in the Banking System (FGDSB) announced, according to a press release issued by the entity, the measure is aimed at increasing the protection of citizens’ savings and strengthening confidence in the banking system in the Republic of Moldova, IPN reports.
Dionis Catanoi, general director of the FGDSB, said that the increase in the coverage level provides a greater degree of security for citizens’ savings and is an important step in modernizing the guarantee system. In addition, an extensive communication campaign will be launched to inform the public about the changes and the benefits for savers.
The coverage level is applied separately for each depositor and each bank, which means that the guaranteed amount of 200 thousand lei is insured separately for deposits held with each banking institution.
According to the Fund, the increase responds to the requirements of the local market and contributes to increasing public confidence in the national banking system. At the same time, measures are being taken to gradually bring the level of deposit coverage in line with European Union standards, taking into account the economic and financial specificities of the Republic of Moldova.
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