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Positive dynamics observed in Azerbaijani capital market (Exclusive)Exclusive

Finance Materials 5 November 2018 20:46

Baku, Azerbaijan, Nov. 5

By Taleh Mursagulov – Trend:

Positive dynamics is observed in the Azerbaijani capital market, deputy director of InvestAZ investment company Orkhan Baghirov said in an interview with Trend.

He said that according to the statistics, in the last two years, thousands of new investors have entered the Azerbaijani capital market.

Baghirov stressed that there are a number of reasons why low activity is observed in the securities market.

"These reasons and ways to solve them are constantly discussed with market participants, as well as with the Financial Market Supervisory Authority (FIMSA)," he said.

“Nevertheless, as a result of the recent work on [financial] enlightenment, efforts to re-privatize state property, as well as the revitalization of the debt market, new issuers appeared,” Baghirov added.

“The Baku Stock Exchange is the main locomotive of the Azerbaijani capital market,” he said. “Stocks, bonds, repo and derivative financial instruments are traded on the stock exchange.”

“The most frequently used instruments are the debt market and derivative financial instruments, then the repo market and stocks, respectively,” Baghirov said.

"This is connected with the fact that the abovementioned tools are highly liquid and less risky," he said.

“The issue of bonds worth $100 million of the state oil company SOCAR, which is the biggest company in Azerbaijan, as well as the issue of bonds of Metak, EmbaFinans companies and others have contributed to this market,” Baghirov said.

"By the way, InvestAZ also issued its bonds in the amount of $1.5 million in September,” he said. “InvestAZ entered the history of the Azerbaijani capital market as the first investment company by successfully issuing its bonds."

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