NDC representatives attended the event dedicated to BSTDB first bond issue in Azerbaijan’s capital market
On August 2, 2019, Black Sea Trade and Development Bank (BSTDB) hosted an event dedicated to its first bond issue in Azerbaijan’s capital market. The event was attended by the representatives of the Ministry of Finance of the Republic of Azerbaijan, Financial Market Supervisory Authority, National Depository Center (NDC), Baku Stock Exchange, Pasha Bank OJSC, Turan Bank OJSC, and investment companies.
In his opening remarks, the representative of the BSTDB informed about the full placement of the bonds with record indicators at the auction held the day before.
Mr. Mushfig Ahmedli, the Deputy Chairman of the Executive Board of NDC highlighted the importance of successful placement of investment securities issued by an international financial institution in local currency and stated that this remarkable event is a result of governmental support for the further development of Azerbaijan's capital market, as well as interaction among market participants. He also informed the participants about the relationship between the BSTDB and NDC by stressing the role of the central depository in promoting international financial institutions’ securities issue in the local market. He noted that NDC pays special attention to expanding the cooperation with international financial institutions, custodian organizations and foreign depositors. In this regard, the ongoing negotiations on opening mutual nominee accounts with both Central Depository of Turkey and Raiffeisen Bank International, as well as negotiations on establishment operational relations with international organizations such as Clearstream and Euroclear were emphasized.
The event also featured the speeches of the representatives of Financial Market Supervisory Authority of the Republic of Azerbaijan, Baku Stock Exchange, Pasha Bank OJSC and Turan Bank OJSC. The event was followed by a Q&A session.