BAKU, Azerbaijan, October 20. The next meeting of the Working Group on Capital Market Development, led by the Central Bank of Azerbaijan (CBA), was held, Trend reports via the CBA.
The CBA, based on the principle of rotation, continues to chair the Working Group on Capital Market Development of the Capital Market Regulators Forum of the Standing Committee on Economic and Commercial Cooperation (COMCEC) of the Organization of Islamic Cooperation (OIC) in 2025.
Within the framework of the chairmanship, analyses are being conducted with member states on the development of the capital market and relevant policy recommendations are being prepared.
In 2024, a report on the topic "Development of the Sukuk Market and Green Sukuk Initiatives" was prepared at the initiative of the working group.
As a continuation of the initiatives put forward in this direction, the topic of activity for 2025 was determined as "Legal and Regulatory Conditions for the Implementation of Sukuk in Azerbaijan: Foreign Experience, Regulatory Gaps and the Need for Reforms".
The results of the research conducted on the topic were discussed at the 14th Annual COMCEC Capital Market Regulators Forum and a presentation was made by a representative of the CBA's Capital Markets Policy and Regulation Department.
To note, this activity serves to increase the range of investment instruments and promote new financial products such as Sukuk, an Islamic finance instrument, in accordance with the initiatives in the capital markets direction set out in the "Financial Sector Development Strategy for 2024-2026" approved by the CBA Board of Directors.
Stay up-to-date with more news on Trend News Agency's WhatsApp channel