The Germans taught SSC employees to monitor investment companies
Despite the existence of legislation, Azerbaijan has no investment companies. However , a group of employees of the State Committee on Securities and BSE during a visit to Germany, which was held from 7 to 11 October , received training on licensing of investment companies and control of the adequacy of their capital .
In the department of public relations SSC they told Turan that training for their employees conducted by specialists of the financial supervision authority of Germany - Bundesanstalt fur Finanzdienstleistungsaufsicht-da (BaFin). The training was organized by the twinning project, which is being implemented in cooperation with the Polish Financial Supervision Agency and the BaFin. The aim of this project is to bring the institutional, legal and regulatory framework for the securities market in Azerbaijan in line with EU standards, as well as raising awareness of participants of the securities market.
AR Law "On Investment projects" was adopted in December 2010. The minimum capital requirement for investment funds is 500 000 manats. - 08D-