Azerbaijani State Committee on Securities Develops Huge Reforms
Azerbaijan, Baku, 25 November / Trend corr. U.Ismayilova/ "The world financial crisis created additional opportunities and time for development of securities, although at the first sight it may seem that the crisis restricts opportunities of development of the market ," Rufat Aslanli, the chairman of the Azerbaijani State Committee on securities, believes.
"The Azerbaijani security market has not strongly integrated into the world. Therefore, it is too early to speak about a direct influence of the situation," Aslanli said.
According to the chairman of the state committee, it would be incorrect to say that the world financial crisis has not influenced on the market of Azerbaijan.
"However, the world crisis has an impact on Azerbaijan, as on economy of other countries, whilst different measures taken by Azerbaijan enabled to avoid strong influence," Aslanli said.
Speaking about further development of the securities market of Azerbaijan, Aslanli said that the committee has launched complex development program of the market, which focuses on holding huge reforms. Reforms will be directed, basically, to prevent from repetition of the risks, which led to beginning of the world financial crisis.
"Action plan of development of the security market includes study and improvement of legislative base, assessment of potential of the market, realization of enlightenment work both for participants and potential investors," Aslanli said.
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