Non- investment Securities Become Fewer
The fall in business activity in Azerbaijan after the sharp depreciation of the national currency in February is observed in many areas of economic activity. Not an exception is also the sector of non-investment securities where the interest of investors in many instruments has dropped.
According to the State Securities Committee, in the first ten months of this year 17 transactions on mortgage securities were registered, while in the same period of 2014 there were 25. SSC does not report on the number of the pledged securities.
Since the beginning of the year the issue of mortgage securities has fallen by 30% (1,710). The volume of issued promissory notes decreased by 20 million AZN and amounted to 9.7 million AZN.
Over the last 2-3 years no housing or deposit certificates have been issued. There are no other non-investment securities in Azerbaijan.
It should be noted that in the market of investment securities the situation is not better: the volume of transactions on shares (619.4 million AZN) decreased compared to the 10 months of 2014 by 39%, and government securities - by 97%. Progress was noted only in the segment of corporate bonds: with the index 2.7 billion AZN it grew by 3%. --- 08D
Economics
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