Azerbaijani brokerage firm Qarant Invest may enter local market
Azerbaijan, Baku, Aug. 30 / Trend /
Azerbaijani brokerage firm Qarant Invest (part of the group of companies ZQAN Holding) is ready to enter the local market, company's director Farid Sattarov told reporters on Thursday.
"We do not see the interest of the clients to work in the local market. However, if we have the appropriate clientele and we see the need for it, we will enter the market," Sattarov said.
He said the company has plans to cooperate with the Baku Stock Exchange.
The main activity of the company is to provide its customers with intermediary services in the field of investments in international financial markets. During the 12-month operations, the company became an assistant to a number of investors in purchasing shares of foreign companies, as well as in cooperation with the Swiss bank, has introduced to the market its line of Forex-products.
Qarant Invest is the only licensed broker in Azerbaijan, whose activities focus exclusively on foreign investment.
Sattarov said about 100 companies use the services of Qarant Invest.
"This is not a bad figure considering this market development in Azerbaijan," Sattarov said.
He said today in Azerbaijan interest in Forex market transactions prevails over the interest in the purchase of securities.
"In view of the fact that it is easier and faster to earn on the Forex market than on securities, interest in these products is higher. During the next ten years, the situation in Azerbaijan will not change," Sattarov said.
The company, in addition to investment and brokerage activities, carries out educational activities. Thus, training in finance, financial analysis and investment is part of the company's activities. In this direction, the company collaborates with such universities, as the Azerbaijan State Economic University and the Qafqaz University. During its year-long activity Qarant Invest conducted seminars and workshops for nearly 1,000 students, and this summer has included in its ranks for practice about 100 students of different universities.
Qarant Invest company was established in August 2011, and in November it received from the State Committee for Securities licenses for brokerage activity for five years.