Responsible finance and financial education in Moldova study

In 2008, the Development Facility of the European Fund for Southeast Europe commissioned a study on Responsible Finance and Financial Education in Moldova. The study was conducted by the Microfinance Centre (MFC) for Central and Eastern Europe and the New Independent States.

The main objective of the study was to prepare an analysis of various dimensions of responsible finance and the existence or lack of responsibility in financial service provision. The study furthermore assesses the role of financial education and possible links of responsible finance to financial literacy levels of the Moldovan population. The study results in the development of action-oriented recommendations targeting specific stakeholder groups (such as regulatory bodies and ministries, financial institutions, associations, and international donors) to further advance the topic of responsible finance in Moldova.

The study concludes: a) there is a link between financial sector development, responsible finance and the level of financial literacy, and b) responsible finance and financial education would benefit from coordinated action of all relevant stakeholders to further promote the topic.