Azerbaijan's investment company buys Turkish government bonds for first time

Azerbaijan's investment company ABB-Invest has made its first investments in securities traded on the Turkish capital market, using direct correspondent relations between the central depositories of Azerbaijan and Türkiye, Aghahuseyn Khudaverdiyev, chairman of the Board of the National Depository Center, said at a briefing dedicated to the E-vote electronic system, Report informs.

He noted that ABB-Invest received 940 government bonds worth 5,000 manats ($2,941).

"This trial operation was conducted with the center's support. As a result, ABB-Invest purchased government bonds denominated in Turkish national currency using its own funds, with a two-year circulation period, 36% annual rate, and a nominal value of 100 Turkish liras ($2.85)," he said.

Khudaverdiyev emphasized that the clearing and settlement processes for the acquired government bonds have been successfully completed, and the securities have been transferred to a nominal depository account at the Central Registry Agency of Türkiye.