The Republic of Moldova shows relatively high usage of digital technologies but remains vulnerable in terms of savings and deep financial inclusion, according to the latest World Bank indicators on financial account ownership and mobile phone usage.
The data show that 56 percent of Moldovans hold a financial account, a level comparable to emerging economies such as Mexico at 53 percent and Mozambique at 54 percent, but well below the average in European Union member states, BANI.MD reports. At the same time, 50 percent of citizens have made or received digital payments, highlighting the rapid expansion of fintech services and electronic payments.
Savings remain a major weakness. Only 7 percent of Moldovans save through formal financial institutions, one of the lowest rates in the ranking and far below countries such as Nigeria at 43 percent, Poland at 46 percent, and Malaysia at 52 percent. The figure reflects both low income levels and a weak culture of formal saving.
In lending, 10 percent of Moldovans have formal loans, a moderate level similar to Malta at 7 percent and Nigeria at 9 percent, but lower than in more developed or fast-growing economies.
By contrast, Moldova performs strongly in access to technology. About 92 percent of citizens own a mobile phone, and 79 percent have used the internet in the past three months. These indicators place the country ahead of states such as Nigeria, Morocco, and Pakistan, and close to several EU countries in Southeast Europe.