ADB Shows Enthusiasm To Promote Capital Market Growth In Azerbaijan

(MENAFN- Trend News Agency) BAKU, Azerbaijan, March 14.​ The Asian Development Bank (ADB) is ready to support the development of the capital market within its cooperation framework with Azerbaijan, said Sunniya Durrani-Jamal, ADB's Country Director for Azerbaijan, Trend reports citing the Azerbaijan Capital Market Participants Association (AFBIA).

A meeting dedicated to the development of the local capital market was held with the participation of Durrani-Jamal, and representatives of the ADB research mission. The meeting also included Farid Akhundov, Chairman of the Supervisory Board of the Baku Stock Exchange (BSE), Ruslan Khalilov, Chairman of the Board of BSE, Ogtay Gasimov, Board Member of BSE, and Murad Yahyayev, Executive Director of the AFBIA.

In his presentation, Farid Akhundov covered all the bases regarding the recent capital market development reforms, including the upgrades to the market's infrastructure, the launch of new financial instruments, and the initiatives to entice local investors.

Ruslan Khalilov emphasized the steps taken to increase the liquidity of the capital market and improve trading mechanisms. He stressed the importance of applying international experience and expanding cooperation with foreign investors to increase the market's investment attractiveness.

The need for improving capital market financial literacy was highlighted by Murad Yahyayev, who spoke in depth about the association's efforts in this area. He emphasized that seminars, investor education, and training programs grounded in international expertise will all contribute to the growth of the market.

Sunniya Durrani-Jamal emphasized the significance of bolstering joint efforts to help the local market integrate into the global financial system in the future and said that the ADB is prepared to assist Azerbaijan's capital market development as part of its cooperation.

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