Azerbaijan Intends To Revise Capital Requirements For Investment Companies
Date
6/11/2024 7:18:09 AM
(MENAFN- Trend News Agency)
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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