EBRD is pleased with the processes of the capital market in Azerbaijan

In one week, Chairman of the State Securities Committee had two meetings with senior representatives of the European Bank for Reconstruction and Development (EBRD). However, the objectives of these meetings, the parties prefer not to talk.

In the Committee reports states that on June 5, the chairman of the agency Rufat Aslanly received the head of the Baku office of the bank of the Nile McCain. "This meeting will help to build new relationships and expand links with the EBRD in the future," said Aslanly McCain.

During the meeting Aslanly noted that Azerbaijan has entered a new stage of economic development and the result will be the integration of the capital market economy. As a result of the measures implemented within the framework of the State Program "Development of the securities market in Azerbaijan in 2011-2020", opened new opportunities in the market, the progress of the market infrastructure, fully automated trading and post-trading system.

In turn, McCain said that the EBRD supports the intended target for the development of the economy and the capital markets in Azerbaijan. According to the EBRD representative in Azerbaijan has reached a "significant changes" in the financial sector. According to him, the market created an environment of high competition, transparency, and formed a corporate governance experience and processes of the capital market in Azerbaijan meet the development strategy of the bank.

The EBRD is one of portfolio investors in Azerbaijan. In the ego asset stakes in several banks, industrial companies, etc. A few years ago, the bank applied for a 20% stake in the International Bank of Azerbaijan. At present, the IBA is undergoing reduction in the share of the state. Perhaps of interest to the Bank's capital markets and associated with this factor. - 08D-