WB gives preliminary approval for financing establishment of new architecture of trading system on securities market of Azerbaijan
Azerbaijan, Baku, November 14 / Trend , N.Ismayilova /
State Committee for Securities (SCS) of Azerbaijan and the World Bank (WB) reached a preliminary agreement on a draft of a new architecture of the trading system of the Azerbaijani securities market, said chairman of SCS Rufat Aslanli.
"We already have a preliminary agreement and the contours of the new project, which is also supported by the government, and now we must send an official request to the World Bank," said Aslanli.
According to him, along with this, the desire of other donors to participate in this project is welcomed. "Swiss State Secretariat for Economic Affairs (SECO) has expressed willingness to participate in this project, and when we draw up a draft program, it will be possible to determine which component will be funded by which institution," said Aslanli.
As a result, the project will create a system of electronic commerce, which will be compared with the current payment system of the Central Bank.
"We will have an opportunity to trade securities on the Baku Stock Exchange in an online regime, and also create opportunities to transfer securities to electronic format," said Aslanli.
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