The governor of the National Bank of Moldova Octavian Armașu said the Central Securities Depository (CSD) should become one of the most active and efficient players in developing the financial market. During a visit to the Depository that already has a separate office, the governor noted the CSD should not only provide services of a higher quality, but should also actively contribute to the development of the financial market, IPN reports, quoting a press release of the central bank.

“The reform should facilitate the appearance of new financial instruments, increase the investors’ interest in securities and stimulate the share issues on the primary market and transactions on the secondary market,” stated Octavian Armașu.

For his part, vice governor Ion Sturzu, who manages the National Bank’s subdivision involved in the implementation of the CSD project, said the reform of the financial infrastructure should not end with the launch of operations with corporate securities. This should continue by improving the services and by implementing new technologies and solutions for investors, issuers and participants of the CSD.

CSD director Alexandru Savva noted the internal working models and information system of the Depository ensure the safe keeping of financial instruments and a higher level of protection of operations. With the implementation of the information system, the securities circulation process will be significantly improved. The development of new products, such as online access to securities and the possibility of performing transactions with securities online, are among the strategic priorities of the CSD.

The constitution of the Central Securities Depository is one of the key reforms of the financial market of the Republic of Moldova that is implemented within the program with the International Monterey Fund with support from USAID.