Azerbaijan, Baku, Sept. 28 /Trend A. Akhundov/
The establishment of PASHA Capital will not affect the activities of other leaders and brokers on the Azerbaijani market, the head of bank administration Farid Akhundov told Trend on Friday.
"PASHA Capital is a company, which was established due to specificity of law and last world trends and separation necessity of certain functions. They will conduct dealer and broker operations. This doesn't mean that other dealer and brokers will lose their business from PASHA Bank in the market", Akhundov said.
In his words, the purpose of PASHA Capital is to lead this business direction and establish relations with other companies in this field.
"The company hasn't received the license for the work on asset management yet. We are working on it. A necessary infrastructure for complete conduction of investment bank services for our services is currently being established", Akhundov said.
Azerbaijani State Statistics Committee issued the permission for broker dealer activities for a period of five years to PASHA Capital on August 24 2012.