The next meeting of the Steering Group, held at the State Committee for Securities on 26 December, discussed the progress in implementation of the State Program "Development of the securities market in Azerbaijan in 2011-2020."
The meeting heard reports on progress made in the work of this year, and plans for 2013.
Deputy Chairman of the State Committee for Securities Ilgar Muradov noted that the program is aimed at a new level of the securities market and the formation of efficient capital market. According to him, in 2011-2012 they far advanced to modernize the infrastructure of the market, improving the legal framework, as well as training and public stakeholders.
At the meeting, there were representatives of the Ministry of Finance, the Central Bank, and the State Committee on Property.
As noted earlier Turan, in the intervening period the work on securities market was largely automated, many by-laws were passed. However, there is no single investment fund, transactions on the stock market are semi-transparent and capital market participants are financial institutions.
Prepared with the participation of SCS 4 bills (on amendments to the Civil Code and the amendments to the Code on Administrative Offences and the draft law "On Securities Market") have not yet been submitted to Parliament. --08D
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