Georgia to accelerate development of pension stock market
Baku, Azerbaijan, July 18
By Tamilla Mammadova – Trend
The development of the pension stock market in Georgia will be accelerated and this process will be completed in 2020-2021, said Deputy CEO of TBC Bank George Tkhelidze, Trend reports with reference to commersant.ge.
According to him, currently, the bonds issued by companies are quite expensive for small investors, entrepreneurs, representatives of small business or ordinary citizens.
CEO of the Georgian Gurieli Company Mikhail Chkuaseli stated that Georgian companies would prefer to sell shares on the stock exchange, which is a cheaper and more profitable investment for small investors, because the buyer of the shares receives a share of the company's profits. In addition, since the company makes its activities transparent to the public through shares, the development of the stock market will increase the level of transparency and democratization of the country's economy.
According to the Deputy CEO of TBC Bank, bonds will be placed on the Georgian Stock Exchange.
“To develop the pension stock market, an investment council of the pension fund has already been created, and we expect that since 2020 it will actively invest in both securities and shares. It is very important that they invest only on the stock exchange. That is why it is necessary to send information to all the corporations in Georgia to improve this process,” said managing director of TBC Capital Meri Chachanidze.
Bank accounts of the Pension Fund are opened in almost all Georgian banks including: Bank of Georgia, TBC Bank, Liberty Bank, VTB Bank and Silk Road Bank.