CJSC National Depository Center is canceled and according to the law of AR "On securities market" will continue to act as a non-profit organization. The relevant proposals are presented by the State Securities Committee of the State Committee on Property, according to NDC board.
In line with the law that came into effect on 15 July this year, the licenses for clearing and depository activities are suspended. All structures that act as depository transfer securities held by them to NDC. Registers of securities holders as from 15 September are to be transferred to the NDC, which acts as a central depository in Azerbaijan. Member of the Central Depository will investment companies and depositories of investment funds.
Professional participants of the securities market should bring their organizational structure to meeting the new requirements.
Register of notary transactions on securities will be automated and the information about these transactions will be transmitted electronically to the NDC. --08B
Economics
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The Central Bank of Azerbaijan (CBA) has approved the "Green Taxonomy," according to a decision by its Board of Directors on November 13.
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Azerbaijan's state oil and gas company, SOCAR, has signed a joint development agreement with Bulgaria’s "Asarel Energy," part of the Asarel Medet holding group. The agreement was signed on November 13 during the COP29 summit in the presence of the Presidents of Azerbaijan and Bulgaria, Ilham Aliyev and Rumen Radev.
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Saudi Electricity CEO Khalid Al-Hamidi and Baba Rzayev, Chairman of Azerbaijan's state-owned energy company Azerenergy, signed a memorandum of understanding (MoU) on Wednesday during the COP29 summit in Baku. The agreement, inked after a high-level meeting between Azerbaijan's Minister of Energy and his Saudi counterpart in the event’s Blue Zone, aims to enhance cooperation on integrating renewable energy into Azerbaijan’s power grid.
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The CEO of ICGB, the operator of the Greece-Bulgaria Interconnector (IGB), Theodor Georgieva, underscored the critical role of Azerbaijan and other gas suppliers to the European Union in the event of a potential cessation of Russian gas deliveries through Ukraine, speaking to journalists on the sidelines of COP29 in Baku.
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