Vugar Namazov: Excess liquidity formed in Azerbaijani capital market

Baku. 17 October. REPORT.AZ/ The capital market development in Azerbaijan have gone through two stages.

Report informs, Chairman of Baku Stock Exchange (BSE) Vugar Namazov said at the event titled “Capital Markets of Azerbaijan: Opportunities and Perspectives” dedicated to the anniversary of issue of the SOCAR bonds.

According to him, these are privatization and post-privatization periods, as well as stages of institutionalization: “At present, we are in the phase of developing the market over existing infrastructure and attracting investors to this market. Previously, we tried to convince investors to the market, and there is no need for this now. There is an excess liquidity in the market and it is necessary to revive the financial instruments. The BSE has a well-developed platform where it is possible to perform 25,000 transactions per second. There are 138,000 types of financial instruments on the stock exchange. Now it's all about business."

V. Namazov also added that the bonds of the State Oil Company of Azerbaijan Republic (SOCAR) were successfully marketed and local financial market is ready for initial turnover of the company's stock.