Azerbaijan May Become a Member of World Association of Equity Market Regulators in 2006
Gunduz Mammadov, the Chairman of the State Securities Committee under the Presidential Administration of Azerbaijan informed Trend, that the Committee has launched taking preparatory measures for the entrance of the country to the World Association of Equity Market Regulators.
According to him, the State Committee should fulfill a number of conditions and tasks posed by the international organization. Mr. Mammadov hopes that Azerbaijan may become a member of the Association in 2008. According to him, the major conditions the country is to fulfill are to introduce certain principles on organizing fund market, improving norms on regulation of the securities market.
It also depends on the situation with the development of the fund market in the country, as well as other general forms he said. Mr. Mammadov said that the National Depository Centre is carrying out works for Azerbaijan to join the European Depositary Organization.