The State Committee for Securities (SCS) annulled on January 15 the license of Baku Stock Exchange (BSE) for depository and clearing activities on its own application.
According to the report from the PR Section of SCS, since September 2013 the storage functions of government securities, as well as the provision of services for clearing and settlement of transactions concluded on the stock exchange moved from BSE to the JSC National Depository Center (NDC).
This work is carried out under the State program "Development of the securities market in 2011-2020," according to which on the basis of NDC the central depository system for government and corporate securities has been formed. As a result, creation of a centralized clearing system and its integration to the electronic payment system has been provided.
Currently operating in Azerbaijan are professional participants of the securities market, which provide brokerage (14), dealer (14), custody (2), and clearing (1) services. There are also two companies to register owners of securities and a stock exchange. Asset management licenses belong to three companies. This year, the broker and dealer licenses of ADB Broker LLC are to be renewed. ----08D
Economics
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Azerbaijani President Ilham Aliyev signed a decree on Monday aimed at improving social welfare, increasing the country’s minimum monthly wage to 400 manats ($235) starting January 1, 2025.
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Turkish companies YDA and ASFAT plan to build a shipyard near Kazakhstan's port of Kuryk to address the country's domestic fleet shortage, Kazakhstan's Minister of Transport Marat Karabaev announced on Monday during a parliamentary session. The project underscores Kazakhstan's ambitions to strengthen its maritime capabilities and logistics infrastructure.
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Kazakhstan's Minister of Transport, Marat Karabayev, unveiled the country’s bold roadmap for transforming itself into a premier transport and logistics hub in Eurasia. Speaking in parliament on Monday, Karabayev detailed strategies to capture a share of the massive $1 trillion annual freight flows between the East-West and North-South corridors.
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The ASCO-owned ferry "Shahdag," freshly refurbished, has resumed operations on the Azerbaijan-Kazakhstan route, aiming to alleviate severe truck congestion at ports on both sides of the Caspian Sea.
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