The State Securities Committee within the Presidential Administration of Azerbaijan has announced about its plans to introduce a new financial instrument to the securities market of the country. According to Gunduz Mammadov, Chairman of the Committee, first municipal bonds are expected to be issued in 2007, Trend reports.
According to him, consultations with the leaders of several districts and self-governing bodies have already been held.
The main aim of the meetings was to get acquitted with the new financial instrument and the possibility on using it to develop the infrastructure in the regions of the country.
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