Details added (first version posted on 11:53)
Baku, Azerbaijan, Dec. 21
By Anvar Mammadov – Trend:
Azerbaijan will have its own investment bank, the director of AzFinance investment company Abid Mammadov said at the event “Capital Markets in 2018”.
His pointed out that the creation of an investment bank is one of the main goals of AzFinance.
"We plan to establish the country's first investment bank in 2018, or at the latest, in 2019,” Mammadov said.“The more we work with the market, the more often we see the demand in it. Investment bank will play a big role in this development. "
He added that people are gradually moving away from traditional financial instruments and are looking for new directions for investment.
"Until 2014, people considered two key tools for investment, namely, bank deposits and real estate investments. Today, people don’t want to use standard investments. The reason is that today the real estate market is no longer experiencing the boom that was observed a few years ago, and the interest on deposits is not so attractive," Mammadov said.
"Companies that are looking for alternative means of financing also show interest. Therefore, the need for an investment bank is growing," Mammadov said.
The investment bank is a financial institution that organizes capital raising in the world financial markets for governments and large companies, as well as provides consulting services for the purchase and sale of business, brokerage services.
It is the leading intermediary in the trading of stocks and bonds, derivatives, currencies and commodities, as well as issuing analytical reports on all markets on which it operates.