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Azerbaijan offers system for ensuring issuers' obligations

Economy Materials 5 September 2023 19:52 (UTC +04:00)
Azerbaijan offers system for ensuring issuers' obligations
Kamran Gasimov
Kamran Gasimov
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BAKU, Azerbaijan, September 5. The Mortgage and Credit Guarantee Fund of Azerbaijan presents a "Mechanism for guaranteeing the obligations of issuers (entrepreneurs) on bonds", the fund told Trend.

According to the fund, a meeting dedicated to the presentation of this mechanism was held.

According to the information, at the meeting, which was attended by representatives of the Central Bank of Azerbaijan, the National Depository Center of the Republic of Azerbaijan, the Baku Stock Exchange, investment companies operating in the country and the "Association of Stock Market Participants of Azerbaijan" public association, a presentation on the application of the new mechanism was presented, answers were given to participants' questions.

In addition, the Fund's guarantee of the fulfillment of obligations on corporate bonds of issuing companies operating in the non-oil sector increases the liquidity and attractiveness of corporate bonds issued by them in manat, and expands the access of entrepreneurs to alternative financial resources. The introduction of the mechanism is also important from the point of view of supporting the development of the securities market and the distribution of investors' risks.

New tools in the field of state support of entrepreneurship are implemented by the fund in accordance with the decree of the President of the Republic of Azerbaijan dated January 26, 2023 No. 2002 on amendments to the decree of the President of the Republic of Azerbaijan dated November 29, 2017 No. 1691 "On ensuring the activities of the Mortgage and Credit Guarantee Fund of the Republic of Azerbaijan".

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