BAKU, Azerbaijan, Feb. 12
By Zeyni Jafarov - Trend:
Attracting foreign investors to the Azerbaijani securities market, as well as ensuring local investors' access to foreign markets are the main activities of the National Depository Center (NDC) of Azerbaijan, Trend reports with reference to the NDC.
Regular work is underway to expand cooperation with foreign depository organizations and global depositories, reads the NDC’s message.
According to the message, in order to provide access to foreign markets, the depository center continues bilateral negotiations with the international depository organization Clearstream to open a nominal savings account with this organization.
Moreover, negotiations had recently started with Raiffeisen Bank International on opening a nominal account.
“Opening foreign accounts with organizations such as Clearstream and Raiffeisen Bank International will not only provide Azerbaijani investors with access to international markets through a more reliable platform, but will indirectly contribute to the development of the local financial market as a whole," said the message.
Moreover, expanding operational ties with foreign depositories, including opening a nominal savings account of the NDC in the Turkish Central Securities Depository of Turkey (MKK), is one of the priority goals in the short term. Online meetings were held in this direction between the two depositories and issues of mutual interest were discussed.
Along with this, bilateral negotiations with counterparties on opening an account of the Georgian ‘Bank of Georgia’ in the NDC of Azerbaijan also ended positively. As the final stage, the signing of an account opening agreement is expected in the near future.
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