Governor of National Bank of Moldova in Vienna says Moldova gets closer to unified European financial market

Moldova is getting closer to a unified European financial market, as it opens the door to capital liberalization and free movement of financial services. Governor of the National Bank of Moldova (BNM) Anca Dragu has made statements to this effect at the European Economic Integration Conference (CEEI 2025), an event organized by the National Bank of Austria in Vienna.

‘’From cross-border complexity to a unified European financial market – EU integration will harness Europe's new economic potential, with Moldova already approaching this architecture, as it opens the door to capital liberalization and free movement of financial services,’’ said Anca Dragu.

The conference's central subject was The Financial Future of Central, Eastern, and Southeastern Europe: Financing Growth and Innovation. The event brought together representatives from central banks, international financial institutions, academia, and the private sector, in order to discuss the necessary infrastructure and regulatory reforms for capital market development, attracting venture capital to promote startups and encouraging investments in capital markets.

At the panel focused on the current state of capital markets in the Central, Eastern, and Southeastern Europe region, Governor Anca Dragu highlighted more central bank initiatives supporting the sector's development, such as new regulations enhancing the efficiency of the Single Central Securities Depository, capital account liberalization and the development of the payment system.

The BNM governor also referred to the strategic cooperation between Moldova and Romania, in order to establish a new stock exchange in Chisinau, which will accelerate the development of Moldova's capital market and strengthen regional financial integration.

‘’The creation of the new stock exchange, in cooperation with the Bucharest Stock Exchange, involves more than a transfer of trading technologies – it brings know-how, innovation, mature governance standards and access to external markets. Opportunities for listings and cross-border operations will emerge, fostering strong collaboration between Moldovan, Romanian and European intermediaries,’’ emphasized Anca Dragu.

At the discussions, the BNM governor said that a priority for the central bank was the modernization and digitization of the financial sector, to develop a more inclusive, innovative and interoperable payment ecosystem.

The governor of the National Bank highlighted that fintech innovations had significant potential to transform Moldova's financial market, and the central bank has already acted to support these changes by implementing a clear and secure regulatory framework, which includes Mandatory Open Banking and e-KYC regulations, ensuring a safe, transparent and inclusive financial ecosystem, further supported by responsible innovation initiatives.