State Securities Committee Considers State Program on Development of the Securities Market

The State Securities Committee held an enlarged meeting of the Board, which discussed the state program of development of the securities market in 2011-2020.

The press service of the State Committee for Securities told Turan they heard a presentation on the work done in the institutional and legislative spheres. They marked expansion of relations with international organizations (World Bank, European Union, etc.), the positive trends identified on the securities market in the country. They discussed the mechanisms for the implementation of the document under the medium-term objectives.

The Board meeting was attended by representatives of the National Depository Center and Baku Stock Exchange (BSE).

Note that after the adoption of the state program of development of the securities market conducted extensive work on automating the depositary, as well as multilateral relations among market professionals. The Law "On Investment Funds" was passed. But the country has not created any investment entity of the kind. The capital market is scarce.

There is almost no mass supply of corporate securities. Experts interpreted negatively as the fact of hiding the BSE since March data on OTC transactions for buying and selling securities.

The World Bank and the local government have been funding the program "Modernization of the capital market in Azerbaijan," the cost of which is estimated at $ 12 million, since 2010. - 08D-