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ATIB: Azerbaijanâ€™s corporate securities market is not appealing for investors

30 April 2009 14:01 (UTC +04:00)

Baku. Nijat Mustafayev - APA-Economics. In spite of the fact that Azerbaijanâ€™s securities market remain underdeveloped, the market turnover is increasing year by year, said a report by Azerbaijani-Turkish Business Association (ATIB).

According to the report, government securities accounts for more than 97% of the stock market turnover, suggesting that the market for corporate securities is not a very appealing instrument for investors.

â€œHowever, this situation does not mean that the corporate shares market is so small. Simply, share deals are largely concentrated on informal market,â€ the report said.

In addition, the report recommended inspecting and improving legislation, increasing transparency and simplifying registration of securities issues, strengthening control over the implementation of corporate governance practices in joint stock companies, creating new market tools, raising awareness, etc.