Azerbaijani national depositary center transformed

Business Materials 10 July 2009 14:12 (UTC +04:00)

Azerbaijan, Baku, July 10 / Trend N. Ismayilova /

The Azerbaijani state committee for securities approved a new organization structure of national depositary center, the center said.

As a result of joint meeting of share holders and supervising council of the center held on June 12, it was made a decision about a new organization structure of the center. As a result of this decision new structural subdivisions and two-stage governance system were created. They meet infrastructural requirements of securities market and principles of corporative governance.

Depositary center passed to single window system. Department of clients' service was created to increase quality of services rendered to clients of the center and accelerate this procedure in national depositary center. This department will render services to clients via office, i.e. conduct activity on study of initial documents and giving outgoing documents to clients. Moreover, introduction of E-system is under stage of completion to systemize and simplify services rendered to clients. 

Moreover, national depositary center set down to rendering new kinds of services. The center began to render services to provide bonds. The first bonds were Azerbaijani mortgage fund's ones emitted to the volume of 55 million manat.

On July 10, the official exchange rate is 0.8043 manat to $1.

Do you have any feedback? Contact our journalist at [email protected]