Azerbaijan, Baku, Jan. 14 / Trend , I.Khalilova, N.Ismayilova/
"World crisis did not lead to cut of income of assets and stakes of the Azerbaijani banks," Chairman of the Azerbaijani State Committee for Securities (SCS) Rufat Aslanli said on Jan. 14.
Moreover, their level is not changed compared to early 2008, he said.
At present, majority of minority shareholders at the banking system is foreign investors having enough experience in this field.
As to other joint stock organizations, Aslanli stressed that currently there are not any companies in Azerbaijan realizing free stake purchase operations. These joint stock companies have been formed in privatization process and they are managed by majority shareholders.
"The same process takes place in the whole world and reduction of majority shareholders' stakes requires a lot of time. Therefore, the world crisis did affect stake market of Azerbaijan," the head of the committee said.
"Exchange and off-exchange trade with securities exist even at the most developed markets, as well as the organized trade networks are created. It is necessary to create these segments at a definite development stage of the stock market in Azerbaijan," Aslanli said.
First, such segmentation was observed at the currency market in Azerbaijan. After establishing the Baku Interbank Stock Exchange, trade operations were held through auctions via the exchange. At present amounts of trades through the currency market decreased, because the organized and non-organized markets were formed. The same situation is observed at the stock market, Aslanli said.
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