State committee: Securities market stabilizes in Azerbaijan
Azerbaijan, Baku, Sept. 29 /Trend, N.Ismayilova/
Demand for government bonds has increased in Azerbaijan, the head of the State Securities Committee (SSC), Rufat Aslanli, said.
"The demand for government bonds has increased due to rising of their profitability this year. In September, the profitability of government bonds has doubled yearly to almost three percent and for 35-day from 1.15 to 1.46 percent," Aslanli said.
He said the stock market in the country has also stabilized, and during the first eight months of this year, the dynamics of trading volume and the number of shares have stabilized as compared to the previous years.
"First of all, the stabilization of the privatization process had a positive impact on this, as the bulk of new shares in the stock market has been provided by privatized enterprises," he said.
He said that in the secondary market the financial institutions expose their bonds in the former regime. The corporate bond market has grown by several dozen times due to placement of the bonds of the Azerbaijan Mortgage Fund.
"Since late last year, financial institutions, including several microfinance institutions, have financed their activities and raised funds through the issuance of debt bonds," he said.
Currently, according to Aslanli, work is being carried out on the preparation of mechanisms to introduce new tools on the securities market that, in general, will depend on the willingness of issuers, as well as the appetite of investors in the market.
"We are working on the introduction of two new tools that are supposed to appear on the stock market by the end of the year," Aslanli said.