Baku. 4 November. REPORT.AZ/ Modernization of financial market in Azerbaijan was launched during period of global economic crisis in 2008-09.
Report informs, Chairman of Board of Directors of Financial Market Supervision Chamber Rufat Aslanli told at the event dedicated to results of “Project for modernization of financial markets” held with joint initiative of World Bank and supported by Switzerland State Secretariat for Economic Affairs (SECO).
According to him, new legal regulations have been determined and legislative basis has been improved within the project. Moreover, necessary works for institutional development of the market were implemented and infrastructure was developed. Project enabled speedy operations in the market: “Operations in Azerbaijan financial market coherent with the climate in leading world markets, including financial market of South Korea”.
“The project provided organizational and operational support to modernization of Azerbaijan financial market. This project supported the state program for development of securities market in Azerbaijan, made an important contribution to development of modern legal and operational framework, improvement of markets capacity”, R.Aslanli said.