Establishment of a centre of excellence within the Moldovan financial sector

Within the framework of this feasibility study, the need for additional financial services in the Moldovan financial sector and the associated qualification requirements were surveyed and analysed. The survey consisted of a secondary analysis of the political, economic and employment conditions in the Moldovan financial sector, a workshop attended by representatives of key institutions and enterprises relevant to financial services and vocational training, and conducting a series of personal interviews with some high-ranking representatives of Moldovan financial institutions and several companies offering financial services.

Financial services have now become an important economic sector in Southeastern and Eastern Europe, and convergence with European standards will also be an important stability criterion for Moldova. In addition to its role in the development of the Moldovan economy as a whole, the sector itself has considerable growth potential in terms of both performance and employment. All experts involved in the present study confirmed that the Moldovan financial system is predestined for the creation of new jobs, especially for women. It is expected that a centre for continuing education in the financial sector will have a positive impact on the overall development of the Moldovan financial market and will also improve the market environment in a sustainable way.

A financial centre as a strongly practice-oriented continuing education institution would therefore be an urgently needed addition to the existing training spectrum. Above all, such an institution would build a bridge back to formal training by providing the experience of practical knowledge to universities and the Moldovan Finance and Banking College, as well as the business contacts established in the cooperation. This could strengthen the practical component of the formal training programme in the medium term.