Baku Stock Exchange: traditional financial instruments do not perform their functions


There is a need to diversify the instruments in the capital markets of Azerbaijan.

At conference "Capital Markets of Azerbaijan: Opportunities & Prospects" Baku Stock Exchange’s chairman of board Vugar Namazov has stated that the current, traditional financial tools partially do not perform their functions.

"There is a need to diversify the instruments in the market, and demand for diversification of instruments of financing and investing has already appeared. Access to the capital markets has become a necessity," Namazov underlined.

He added that at the current stage it is also important to foster debt instruments, the bond market and application of standards of corporate governance.

"The positive results of this work have appeared since last year. We’ve successfully placed bonds of the State Oil Company of Azerbaijan (SOCAR) in the amount of $100 million and sold IPO," Namazov emphasized.