Banks be able to enter securities market directly


January 29, Fineko/ Central Bank’s chair Elman Rustamov explained a range of questions at an online press conference.

ABC.AZ reports that according to Rustamov, from now on the Azerbaijani banks will be able to enter the securities market without the mediation of investment companies.

He noted that currently banks can enter the securities market through investment companies.

"Banks also create their own investment company for this purpose. The entry of banks into the securities market through the mediation of investment companies has led to bureaucracy and additional costs. We will come up with a legislative initiative so that banks themselves can directly enter the securities market and participate in it," he stated.