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NBA and Azerbaijan Finance Ministry Prepare for Meeting of Coordination Council for Regulation in State Securities Market

Business Materials 19 January 2007 18:06 (UTC +04:00)

The State Securities Committee within the Azerbaijan Presidential Administration has registered a prospectus of the issue of state securities of the Azerbaijan Finance Ministry in 2007.

As Trend has been informed in the Finance Ministry, Azerbaijan is expected to issue bonds to the sum of 200 mln. AZN. Until 2006, the prospectus of issue of the state securities had been registered to the sum of 130 mln. AZN, however, the placement reached only 111,621 mln. AZN.

In 2007, the Finance Ministry has plans to make its work more active not only in issuing short-term state securities, but also long-term. In 2006, it was for the first time when the Finance Ministry launched issuing annual state securities, and it is presently preparing for issuing state securities with the circulation period up to 2, 3, and 5 years. Presently, work on extending the list of participants of the state security market is underway. Physical people are expected to be involved in it as well.

To regulate the state securities market, Azerbaijan is currently preparing for the sitting of the Coordination Council, which was established under the participation of representatives of the Finance Ministry and the national bank of the Country. During the forthcoming meeting, the schedule of the placement of state securities of the Finance Ministry and notes of National Bank for 2007 is expected to be approved.

The Finance Ministry and the National Bank of Azerbaijan will also discuss the Action Plan for the further development of the state securities market. Due to the anti inflation measures being taken, the volume of the market is expected to be expanded. Moreover, they have a significant demand.

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