State Securities Committee register first issue of housing certificates

Business Materials 13 June 2006 13:11

State Securities Committee (SSC) at President of Azerbaijan registered first emission of housing certificates by Araz-96 Construction Company, Trend reports quoting SSC president Gunduz Mamedov.

Mamedov said certificates have been issued for construction of a building in Ganja. This financial tool will enable repayment of apartment cost; it is planned to issue 137 certificates under this agreement.

Official said that within 5 years number of deals concluded rose almost in 10 times. If during 2000 deals on shares totaled 612, by the totals of 2005 they reached 7,500 and amounted 50mln manat.

Alongside, he said last time operations in state bonds market have intensified. During 5 months, 26mln manat and 202mln manat of short-term state bonds and NBAs notes, respectively, have been deposited.

Mamedov opined that namely short-term state bonds played significant role as a financial tool pf anti-inflation policy.