Azerbaijan and Russia’s NDCs Sign MOC

Business Materials 7 September 2007 18:07 (UTC +04:00)

Azerbaijan, Baku / Trend corr U. Ismayilova / The National Deposit Centre of Azerbaijan (NDC) signed a Memorandum of Cooperation (MOC) with the NDC of Russia, Turkey, (Takasbank), Uzbekistan, the Ukraine, Belarus, and the international organization of SVIFT on 7 September.

Azerbaijan's NDC signed a memo on correspondent relations with Russia. It was noted during the signing ceremony that the account of Russia's NDC in the Azerbaijan NDC will enable Russian investors to take into consideration securities of Azerbaijani issuers.

During the ten years of Azerbaijan's NDC functioning, the sum of its assets made up $922mln, the number of its clients (juridical entities and the public) comprised 93,126, and the number of JSCs, which are the parties to register the agreement with the NDC, is 127.

In 2006, the NDC's first Nakhchivan branch was established. It has twenty-six issuer-clients with a total of assets comprising over $5mln.