The Azerbaijan State News Agency

POLITICS

SECURITIES MARKET DEVELOPING

State Committee of Securities has received 125 complaints in the first half of the year and investigations by the committee found out law breaks in 57 joint stock companies and fine worth of 68 million AZM was imposed, the Committee’s press service told correspondent of AzerTAj.

Chairman of the Committee Heydar Babayev held a news conference and reported on the situation in the securities market of Republic. Mr. Babayev said municipals will soon enter securities market and the committee will help one of the municipals. Our experts had paid visit to northern regions and this step is taken within economic development program of the regions, he underlined. Enterprises engaged in production will soon release loans while only banks made this in Azerbaijan.

As to official returns, 7 banks have issued 49 million AZM and 4 million USD loans since beginning of the year, which is twice more against last year. Profitability of the loans hesitates between 6-10 percent. State loans yield to private sector loans for their amount and profitability as amount of state securities fell to 60 billion AZM and profitability to 4.77 percent.

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