BAKU, Azerbaijan, December 2. Azerbaijan's Central Bank (CBA) has launched the system for issuing securities, Trend reports citing the CBA.
According to the bank, the main purpose of the system is to create flexible financial opportunities in the market by implementing electronic services in the capital market and increasing the accessibility of the market through digital channels.
The provision of services to issuers in electronic form on the principle of a "single window" has begun in accordance with the state registration and placement through the system of investment securities of the Central Bank, the National Depository Center (NDC), and the Baku Stock Exchange (BSE).
The mentioned system envisages the following:
- state registration of the securities' issuance
- confirmation of the prospectuses and information memoranda
- state registration of stock issuance during consolidation
- stock split
- a rise or fall in the nominal value of stocks
- state registration of stock issuance during legal entity reorganization
- withdrawal of investment securities from circulation
- confirmation of the report on the results of the issuance
- state registration of the issuance of investment securities outside Azerbaijan's territory
- state registration of prospectus amendments and the release decision.