Azerbaijan, Baku, 22 January / Trend corr I. Khalilova / The Azerbaijani National Deposit Centre is completing negotiations with the Islamic Development Bank (IDB) on technical assistance for development of regional activities of the centre, the chair of the Azerbaijani State Securities Committee Gunduz Mammadov said on 22 January. Implementation of the project may begin this year.
The necessary documents will be submitted to the Cabinet in the near future for the authorities to sign an agreement with the IDB. The IDB plans to allocate a grant in the sum of $200,000, which is intended to acquire the necessary equipment, software and training of employees for branches of the centre.
Through technical assistance from the bank, five to six regional branches will be established and equipped. In the first stage, the branch network will be established in Ganja and Lankaran, in the second - in Guba and Sheki. All branches of the centre will operate on-line and will be connected to the central office.
The first branch of the centre was established in 2006.