New law on securities can be adopted in Azerbaijan by mid-2014

Business Materials 31 May 2013 19:46 (UTC +04:00)

Azerbaijan, Baku, May 31 / Trend, E. Aliyev /

The Azerbaijani bill on "Securities" will be submitted to the Azerbaijani Presidential Administration and the Parliament in the coming months, Chairman of the Azerbaijani State Securities Committee Rufat Aslanli told the media today.

"We are focused on discussing this bill at the autumn session, and at the latest, the spring session of the Parliament," he said.

He added that the law is very important for the country.

"This law is aimed at developing the securities market in Azerbaijan, ensuring the rights of the participants in this market and the legal qualification of securities transactions," he added.

Improving the regulatory framework in the securities market is one of the six main directions of the state program for the securities market development for 2011-2020, adopted in May 2011.