The State Securities Committee under the President of Azerbaijan has received a preliminary assent on continuation of the project within the Program FД°RST INITIATД°VE, Gunduz Mammadov, Chairman of the Committee told Trend today.
During the recent visit to London, we expressed our wish to implement the second stage, and goals and directions of the future project were discussed as well. I do not rule out that FIRST might accept it either as a positive or negative decision, pointed out Mr. Mammadov.
According to him, the assistance of the Committee can be rendered in the field of foundation and development of institutes of collective investment in the country.
In order to study the activity of investment and collective investment funds, in Great Britain we held meetings with the managers of the Program FIRST INITIATIVE Mark Saint Charles and the Investment Consulting Company C.Bond and Co. Within the visit, the data on the investment funds were collected, including the foundation, Activity, and the state regulation of these funds, perspectives on foundation of collective investment institutes in Azerbaijan were discussed as well.
In addition, meetings with the management of the London Stock Exchange were held. During these meetings, possibilities on issuing of the securities of the Azerbaijani issuers to the alternative investment market were discussed as well. All requirements and terms on the participation at this market were discussed during the meetings with the managements of the English juristic companies WH Ireland and Charlz Rasse. Mr. Mammadov also pointed out that at present, only Russian, Kazakhstan, and Ukrainian companies are taking part in this segment of the market.
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