MOLDOVA'S STOCK EXCHANGE HAS GOOD CHANCES FOR DEVELOPMENT - NBM GUVERNOR ANCA DRAGU

The Moldovan Stock Exchange has good chances for development, stated National Bank Governor Anca Dragu following a visit to Bucharest. According to information provided to INFOTAG by bank’s press service, in Romania, the NBM governor discussed issues of mutual penetration of the capital markets of the two countries.

“The Republic of Moldova can also become a market of interest for foreign companies already present in Romania,” the banker said.

Dragu spent two days negotiating with representatives of the Bucharest Stock Exchange (BVB), the Financial Supervisory Authority (ASF), and the National Bank of Romania (BNR) regarding the dual listing of domestic companies on the Moldovan Stock Exchange and foreign companies, as well as mechanisms for trading shares and other financial instruments on the BVB.

Following the meetings, Anca Dragu noted that relations with the BVB could accelerate the development of Moldova's financial market.

“There are positive reviews from Bucharest, people already know each other. We cooperate, and I think we will soon be able to work together,” said Dragu.

The NBM governor acknowledged that legislative changes are necessary to ensure the functionality of Moldova's stock market, as well as a number of other measures.

The discussions with BNR representatives focused on the requirements of European legislation regarding listing on EU stock exchanges to ensure access for companies from the Republic of Moldova to foreign capital markets.

In discussions with BNR representatives, the NBM president discussed supervision and regulation issues regarding operations on the stock market involving banking assets. The parties reached an agreement to conclude a cooperation agreement, which provides for the exchange of information between supervisory authorities.