A new draft law on the securities market is being prepared in Azerbaijan, said Murad Yahyayev, the executive director of the Azerbaijan Capital Market Participants Association (AFBIA), APA-Economics reports.
According to him, the law on the securities market was adopted in 2015: "Since then, there have been certain amendments and additions. However, we are currently diagnosing to what extent it fully meets the demands of the market and the requirements of the modern era. The Central Bank of Azerbaijan is working on this issue. AFBIA is specifically holding discussions on the practical difficulties experienced in the market. Updating the law is not a short-term task. The process takes a long time, and at best, it lasts for 1 year. We hope that this process will be completed in a maximum of 1 to 1.5 years. The new legislation will contribute to the development of the market, protect the rights of investors, and increase the interest of businesses in this sector," Murad Yahyayev added.
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