BAKU, Azerbaijan, September 7. The Baku Stock Exchange (BSE) is preparing a strategic plan for the development of the exchange market from 2024 through 2026," the Acting Chairman of the BSE Board of Directors Eldar Abdullayev told Trend.
"This plan focuses on the development of the corporate sector as an alternative to other financial sectors. This is necessary because the diversity of funding sources plays a crucial role. Entrepreneurs need to have a free choice, and the stock exchange, the capital market, is one of such free choices. To achieve this, we'll provide special incentive programs and commission fee exemption," Abdullayev said.
"The key thing that needs to be done is simply to start taking action. When an entrepreneur realizes that it's interesting, they can issue securities. It's noteworthy that, in addition to financial companies, we also have other non-financial enterprises that are issuing securities. The approval of this strategy is expected in December of this year," he added.
The turnover of securities on the Baku Stock Exchange (BSE) from January through June 2023 exceeded 7.79 billion manat ($4.58 billion), which is 1.96 percent less year-on-year.
The share of government securities in the total turnover amounted to 40.85 percent to 3.18 billion manat ($1.87 billion).
The volume of trading in the secondary market of government securities increased by 119.76 percent to 654.08 million manat ($384.75 million), while the volume of corporate securities increased by 29.79 percent to 680.4 million manat ($400.2 million).
Moreover, the primary government securities market recorded a decrease of 39.05 percent to $2.5 billion compared to the previous year.
