The National Bank of Moldova published episode eight of its “Sensul banilor” podcast, focused on explaining how the capital market works and what it could mean for consumers and companies as Moldova develops its market infrastructure. The bank notes the podcast is produced for financial education and that opinions expressed do not represent the National Bank’s official position. In the discussion, Governor Anca Dragu described preparations to support capital market development, including ownership of the central securities depository and ongoing legislative fine-tuning intended to enable full interconnection between the Chisinau depository and the Bucharest depository. The episode also covered cooperation with the Bucharest Stock Exchange, potential dual listings, the role of the National Commission for Financial Markets in authorising and regulating market participants, and the risk-return trade-offs for retail investors. Veronica Arpintin, Chief Executive Officer of the Moldova International Stock Exchange, outlined plans to obtain a licence from the National Commission for Financial Markets and to make the new exchange operational in 2026, with early products expected to include bonds and shares. Digitalisation featured as an enabler, with references to the National Bank’s instant payments platform MIA and SEPA as a potential catalyst for lowering cross-border transfer costs for investors. Dragu also pointed to late 2027 as a point to take stock of progress after roughly a year of the new exchange’s operation.

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