The National Depository Center (NDC) approved the Regulations "On the opening, closing and managing in the depository system."
According to this document, licensed investment companies have the right to open custody accounts for securities for the investors of the stock market. In other words, an investor's custody account can be opened without the direct involvement of the depositary.
Note that according to the current Law of AR on the Securities Market valid since July 2015, NDC is a central depository in the securities market. There are no other depositories in the country. Five legal entities have licenses to provide activities of investment companies.
As of January 1, 2012 NDC had 101.2 thousand custody accounts belonging to investors. NDC last issued an annual report in 2011.
In 2015, NDC was converted from a closed-type JSC into a non-profit organization. Its founder was the State Committee for Securities, now liquidated. ----08D
Economics
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The Cabinet of Ministers of Azerbaijan has approved a set of regulations to govern the approval of agreements under the country’s competition law, aimed at fostering compliance with legal frameworks and enhancing market transparency.
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Azerbaijan's ambitious program to restore territories liberated from Armenian occupation has attracted attention due to the extensive use of single-source procurement methods, raising concerns about transparency and corruption.
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Azerbaijan recorded a 2% increase in wheat imports from January to November 2024 compared to the same period in 2023, underscoring its continued reliance on external sources to meet domestic demand. This growth comes amid a significant decline in domestic wheat production, which decreased by 148,100 tons in 2024, further intensifying the need for imported supplies.
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