BAKU, Azerbaijan, May 26. The "State Program for expanding financial inclusion for 2027-2030" approved by President of Azerbaijan Ilham Aliyev envisages promoting more active participation of banks in capital markets, Trend reports.
In accordance with paragraph 8.2.5 of the program, it's recommended to implement measures to promote direct participation of banks in capital markets.
The Central Bank of Azerbaijan (CBA) is designated as the main implementing body in this area, and it is planned to involve the Azerbaijan Banking Association (ABA) and the Azerbaijan Capital Markets Association (ACMA) in the implementation of the measures.
According to the document, an assessment of the level of readiness of banks to open investment accounts for their clients will be carried out from 2027 through 2028. In addition, work will be carried out to form the necessary capacity for banks to provide investment services to their clients.
The State Program notes that as a result of the measures to be taken, it is aimed that at least three banks will provide investment services to their clients.
