Moldovan private people to be able to buy state securities directly
16:37 | 22.09.2021 Category: Official
Chisinau, 22 September /MOLDPRES/- Today the Cabinet of Ministers approved the Concept of the Program for the direct sale of state securities (VMS) to individuals in the Republic of Moldova. The program envisages the creation of an investment product adapted to the requirements of individuals as investors in VMS.
According to the decision, individuals will have direct access to the purchase of VMS through an electronic platform (e-VMS), in which VMS broadcasts will be made by direct placement only to individuals, without auctions and without intermediation. Currently, individuals can only purchase VMS through primary dealers. The platform will provide the necessary technical facilities, such as: internet access, identification of persons, interaction with payment systems and state information resources, record of retail investors and tools etc.
When conceptualizing the architecture of the electronic platform, the use of the existing e-government infrastructure was taken into account, namely e-government services for hosting, payment, authentication and authorization, data exchange and interoperability, notification, event journaling, etc.
Likewise, according to the developed architecture, access to the electronic VMS sales platform will be set up via a web page, using existing government authentication and access control services (MPass and Mconnect).
At the same time, the Program contains chapters where they are described: VMS transmission parameters, VMS trading, VMS redemption, users and their roles within the electronic platform. Likewise, the working scenarios within the electronic platform and the responsibilities of the parties involved in the project are described.
The development of the VMS internal market is a long-term strategic objective of the Ministry of Finance, provided annually in the Medium-Term State Debt Management Program. In order to achieve this objective, the actions of the Ministry of Finance are aimed at diversifying the VMS sales channels.
In developing the Concept, the Ministry of Finance benefited from the support of the USAID Project, Transparency of the Financial Sector in Moldova (FSTA). USAID will also support the acquisition and implementation of the software solution for the electronic platform.
VMS are financial instruments that certify the public debt, in the form of treasury bills and government bonds, constituting short-term and long-term government loans in national currency. Their nominal value is 100 lei, and the term of circulation - 91, 182 and 364 days for treasury bills and from 1 year and longer for government bonds.