Governor of Azerbaijan’s Central Bank meets with investment companies’ executives

BAKU, Azerbaijan, August 5. The Governor of
Azerbaijani Central Bank (CBA) Taleh Kazimov held a meeting with
investment companies’ executives, Trend reports citing CBA.

The purpose of the meeting is to discuss issues of increasing
the role and institutional development of capital market in economy
of Azerbaijan, modernization of securities market infrastructure,
the improvement of regulatory and control processes and control in
the area in accordance with international standards.

Kazimov noted that, macroeconomic and financial stability as the
result of the ongoing reforms and development policy has been
ensured in Azerbaijan.

He stressed the particular importance of the work in further
improvement of the leading role of financial markets in Azerbaijan,
in particular, the formation of a capital market that meets
international standards and provides ample opportunities for
financing the economy, and the creation of capitalization
mechanisms that ensure the transformation of the savings of the
population into investments.

In turn, the executives of investment companies expressed their
opinions on current and strategic issues of capital market
development, improvement of market infrastructure and promotion in
the market.

During the meeting, an exchange of views took place with
representatives of investment companies on improving the regulatory
framework and regulatory mechanisms in the capital market,
increasing the role of financial intermediation, stimulating the
activities of investment funds, optimizing clearing and settlement
systems with securities, creating a stimulating tax climate in the
securities market, expanding the range of investment securities
traded on stock exchange.