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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