Governor of the Central Bank of Azerbaijan (CBA) Taleh Kazimov held a meeting with the leaders of investment companies, Trend reports citing the CBA.
The purpose of the meeting is to discuss the issues of increasing the role and institutional development of the capital market in the economy of Azerbaijan, modernizing the infrastructure of the securities market, improving regulatory and supervisory processes and control in the region in accordance with international standards.
Kazimov noted that macroeconomic and financial stability resulting from ongoing reforms and development policy has been ensured in Azerbaijan.
He stressed the particular importance of work aimed at further improving the leading role of financial markets in Azerbaijan, in particular the formation of a capital market in line with international standards and providing ample opportunities for financing the economy, and the creation of capitalization mechanisms that ensure the transformation of the population’s savings into investments.
In turn, the leaders of investment companies expressed their opinions on current and strategic issues of capital market development, improvement of market infrastructure and promotion in the market.
During the meeting, an exchange of views took place with representatives of investment companies on improving the regulatory framework and mechanisms for regulating the capital market, increasing the role of financial intermediation, stimulation of the activities of investment funds, optimization of securities clearing and settlement systems, creation of a stimulating tax climate in the securities market, expansion of the range of marketable securities traded on the stock exchange.
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