Azerbaijan’s Securities Market Promising for Russian Investors
Azerbaijan, Baku / Trend corr I. Khalilova / Azerbaijan's securities market is interesting and promising for Russian investors, the Managing Director of Global Fund Management, Gleb Shestakov, said within the framework of the bonds congress of the CIS and Baltic countries in Baku.
At the same time Shestakov believes that the market still has lots of problems. "In order to increase interest in the market, the problems have to be resolved," he said.
He indicated a necessity in disclosing information about the issue prospectus of securities as one of the key problems. The 10% tax is also an unresolved issue. Separation of issuers from brokers was another problem identified by Shestakov.
"By July it was not a problem to find a broker. However, as after July all broker companies should be independent and juridical organizations, the matter will clearly occur during the securities market operations," Shestakov said.
Shestakov considers the rates on state short-term bonds to be interesting. Their interest rate is currently 10%.
"Given the rating of Azerbaijan, the rates are good for the economy's development," Shestakov added.
As to corporative obligations with the profitability of 12-14%, if excluding the 10% tax the investors can receive some 0.2% from Unibank, 0.6%-0.8% - Bank Standard, 0.7%-0.8% - Uni Leasing, 1% - Bank of Baku, 0.8% - Azal, and so on.