The primary corporate securities market has grown by 10 percent since early 2021 up to one billion manat ($588 million) in Azerbaijan compared to the same period of 2020, Arif Jalilov, head of the prudential policy and methodology division of the Central Bank of Azerbaijan (CBA), said during an auction on placement of Optimal Electronics LLC’s bonds at the Baku Stock Exchange (BSE), Trend reports.

Jalilov added that the CBA continues to take steps to develop the capital market in accordance with its strategic plan.

“The number of required documents decreased and new requirements for rendering investment services were set as a result of easing the BSE listing rules in 2020,” the head of the division said. “These measures are an incentive for the market growth.”

Optimal Electronics LLC placed 2,500 bonds with a nominal value of 1,000 manat ($588) each in the amount of 2.5 million manat ($1.5 million) with a maturity of three years and at an annual rate of 12 percent on November 23.

Source: Trend News Agency