A conference on "Corporate Governance and accountability in joint stock companies"

The State Securities Committee (SSC) organized, with the financial support of Pasha Bank, a conference, which discussed issues of corporate governance and efficiency of the reporting system.

Deputy Chairman of the State Securities Committee Ilgar Muradov told about measures to establish the rules and procedures of corporate governance in line with international principles, the protection of investors' rights, to ensure equal treatment of shareholders, etc. According to him, there are significant achievements in ensuring financial stability in the joint-stock companies, the organization efficient and transparent system of governance and accountability.

The conference was attended by officials of about 20 JSC and a representative of the Ministry of Economy and Industry. Ministry of Economy is responsible for improving corporate governance in companies.

Note that the previous conference on the same topic was held in Guba online in May 2013.

In Azerbaijan, there are over 2,000 issuers, including more than 1600 JSC, created as a result of restructuring and privatization of state enterprises, of which only about 2-3% in the press publish their annual reports. Listing on the stock exchange there is only one company. In Armenia, for example, in 2013 exchange traded the securities of 14 companies, Georgia – 133, Kazakhstan - 78, Kyrgyzstan - 19, Russia – 650, Ukraine - 175, etc. - 08D-

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