CONFERENCE ON AZERBAIJANI SECURITIES MARKET HELD
The conference focused on work done in Azerbaijan towards this project, which was included in the EU-funded TACIS project.
Speaking of the project implemented by the Securities Research Associates, resident team leader for TACIS project James Rowley stressed the existence of the securities infrastructure in Azerbaijan. In this respect, Azerbaijan adopted new laws concerning securities market and introduced new securities-related services. Speakers noted that some Azerbaijani banks had issued first banking bonds in early 2004, thus, beginning the transition from bonds to equities.
Chairman of the Azerbaijan State Securities Market under the President of the Azerbaijan Republic Heydar Babayev said that the project launched on 31 March last year is to be completed on November 4, 2004. For this period, relevant laws have been prepared and agreed with international experts. According to Heydar Babayev, corporate bonds and shares markets are quite active now in Azerbaijan.
The discussions at the conference mainly revolved around “Transition from Bonds to Equities in the Azerbaijan Capital Market”, “Baku Stock Exchange and its Role in the Azerbaijan Capital Market”, etc.
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