BAKU, Azerbaijan, January 29. Certain steps may
be taken to address an appeal to the Central Bank of Azerbaijan
(CBA) to enable insurance companies to purchase bonds of non-bank
credit institutions (NBCIs), Chairman of the Board of Directors of
the Azerbaijan Capital Markets Association (ACMA) Public Union
Orkhan Baghirov said at the Microfinance Forum in Baku today,
Trend reports.
As per his assertion, at this moment, insurance firms are unable
to acquire bonds from NBCIs.
"We associations - ACMA, the Azerbaijan Microfinance Association
(AMFA), the Azerbaijan Insurers Association (AIA) and the
Azerbaijan Banks Association - can jointly apply to the CBA.
Both the buying and selling sides have the relevant request. In
particular, attention can be paid to this issue after preparing the
draft legislation on the establishment of the National Rating
Organization," Baghirov emphasized.
The "Access to Capital Markets: 1st Investor—Microfinance
Forum," being held in Baku, Azerbaijan, is bringing together
important figures from the financial industry. The forum is jointly
organized by the Central Bank of Azerbaijan (CBA), the Azerbaijan
Capital Markets Association (AKBA), the Azerbaijan Microfinance
Association (AMFA), and the Baku Stock Exchange (BSE).
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