Central Bank first time in Azerbaijan creates Securities Issuance System


December 2, Fineko/abc.az. The Securities Issuance System created by the Central Bank of Azerbaijan (CBA) has been launched, ABC.AZ informs, referring to CBA.

The securities issue system was created by the Central Bank as part of the goals defined by the strategic plan on capital market development, as well as the action plan of the working group "Corporate Governance, Investment, Protection of Investors' Interests, Business Ethics & Corporate Social Responsibility" of the Commission on the Business Environment & International Ratings for 2022.

"Services on state registration and placement of investment securities (shares and bonds) through the system are carried out in e-form. The main purpose of this system is to create flexible financing opportunities in the market by expanding the use of e-services in the capital market and increase the availability of access to the market through digital channels," the Central Bank said.

The system allows e-state registration of the issue of investment securities, approval of issue prospectuses and information memoranda, state registration of the issue of shares in case of consolidation, increase or decrease in the nominal value of shares.

In addition, the system also allows for e-state registration of the issue of shares during the reorganization of legal entities, relevant operations related to the withdrawal of investment securities from circulation, approval of the report on the results of the issue, as well as state registration of the issue of investment securities outside the territory of Azerbaijan.