Baku, Azerbaijan, Dec. 28
By Taleh Mursagulov – Trend:
Turnover in Azerbaijan’s capital market in 2018 increased approximately two times compared to last year, Chairman of the Board of the Association of Stock Market Participants of Azerbaijan (AFBIA) Jeyhun Ibrahimov told Trend Dec. 28.
He said that in general development is observed in the capital market of Azerbaijan, in particular in the bond market, and there is also an increase in the secondary shares market, in the primary placement market, the REPO market and the CFD market.
“Nevertheless, our main goal is to increase the activity in the corporate securities market and to ensure the active participation of individuals there,” he noted. “From this point of view, we believe the potential of the local capital market is much greater, and to use this potential effectively, it is needed to improve the financial literacy of the population.”
He noted that in general the development of the Azerbaijani capital market in 2018 can be considered satisfactory.
Ibrahimov added that in 2018 the capital market of Azerbaijan had a number of significant events.
“In 2018, the total turnover in the Baku Stock Exchange for the first time hit 20 billion manats,” he said. “In addition, the price of SOCAR bonds this year reached a record high [$1,037].”
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