BAKU, Azerbaijan, Aug. 10
By Zeyni Jafarov - Trend:
The National Depository Center (NDC) of Azerbaijan made coupon payments to 771 investors worth 122 million manat ($71.7 million) and $1.3 million during July 2021, which is 2.2 times more compared to June 2021, the NDC told Trend.
Payments during the specified period were made on the bonds of the Ministry of Finance of Azerbaijan, the Mortgage and Credit Guarantee Fund, the State Oil Company (SOCAR), the Embafinance non-bank credit organization and the Ferrum Kapital factoring company.
In June 2021, the NDC made coupon payments to 126 investors worth 55.6 million manat ($32.7 millon) and $653,000.
“Starting from June, the goals are being implemented in accordance with the adopted strategic plan of the National Depository Center for 2021-2023. Based on the best international experience and the specifics of the local market, one of the objectives of this plan is to simplify and automate business procedures. To achieve these goals, the ‘Cross-account transfer’ function has been created for investors in their online cabinets. Its implementation ensures the efficiency of managing investor accounts in an environment based on Cross-web technology using ASAN Imza certificates in a secure mode,” the center said.
In early April, the NDC hosted a meeting of the Association of Stock Exchange Participants, where discussions took place on proposals for changes in legislation that could stimulate the development of the securities market in Azerbaijan, settlements on transactions in the secondary market, and the creation of expert groups within the association.
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