Anca Dragu: Soon we will be able to see Stock Exchange in Chisinau functional

The governor of the National Bank of Moldova (NBM) Anca Dragu said that the Stock Exchange in Chisinau has good chances for development and Moldova can also be a market of interest for foreign companies that are already in Romania. The official made such statements at the end of a working visit to Bucharest,  IPN reports, quoting a press release of the institution.

For two days, Anca Dragu held talks with representatives of the Bucharest Stock Exchange (BVB), the Financial Supervisory Authority and the National Bank of Romania. These centered on the possible dual listing of Moldovan companies on the Moldovan and foreign stock exchanges and the mechanisms for trading in shares and other financial instruments on the BVB.

The study of the experience and good practices for the development of Moldova’s stock market was an emphasis during the discussions on the BVB. Following these meetings, the NBM governor said that the financial market in the Republic of Moldova needs swift development and the relationship with the BVB can boost this process: “From Bucharest there is positive feedback because the people already know each other. We know each other, we cooperate and I think we will soon be able to work together.”

According to the governor, legislative changes and several other measures are needed to ensure this functionality.

The topics discussed with representatives of the Financial Supervisory Authority included the meeting of the European legal requirements regarding listing on stock exchanges in the EU member states for ensuring Moldovan companies’ access and attract investments on foreign markets, and also the reporting requirements for investment companies and the supervision of shares transactions.

Later, Anca Dragu discussed with representatives of the National Bank of Romania the supervision and regulation of stock exchange operations involving bank assets, as well as the intervention mechanisms and measures applied by the central bank to ensure quality shareholders. As a result of the discussions held in Bucharest, it was decided to conclude a cooperation agreement on the exchange of information between the supervisory authorities.

The visit of the NBM governor to Bucharest aimed to promote the interconnection of the capital markets of the Republic of Moldova and Romania and took place in continuation of the discussions at the Forum “Moldova-Romania: Capital Bridges” that was recently held in Bucharest and involved high-ranking officials from the two states.

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