BAKU, Azerbaijan, June 11. Azerbaijan's Central Bank is expected to revise minimum capital requirements for investment companies, PASHA Capital Chairman of the Board Jeyhun Hajiyev said a press conference dedicated to the results of activity for 2023 and strategic plans for the coming period, Trend reports.
According to him, at the moment, the minimum amount of the authorized capital of an investment company in category A providing basic investment services is not less than 300,000 manat ($176,399).
The minimum amount of authorized capital for investment companies in the B category providing auxiliary investment services is set at 75,000 manat ($44,099).
“At present, the authorized capital of ‘PASHA Capital Investment Company’ is 300,000 manat ($176,399), which corresponds to the current needs of investment companies to provide all investment services. Our company has accumulated significant retained earnings, and we use the authorized capital and retained earnings together as total capital that meets the Central Bank's requirements. After determining new minimum capital requirements and resolving several other issues, a decision will be made to increase the authorized capital of PASHA Capital,” Hajiyev emphasized.
Hajiyev also noted that the new strategy of the company includes an increase in the authorized capital of PASHA Capital.
To note, the investment company PASHA Capital was founded in June 2012. PASHA Capital offers its clients a wide range of services, including brokerage services, consulting, and research; underwriting; margin trading; advisory services; as well as other incidental investment services.
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