FEDERATION OF EURO-ASIAN STOCK EXCHANGES
ANNUAL REPORT 2015
AZERBAIJAN
key CAPITAL MARKETS INFORMATION
Country Facts
Country Azerbaijan Legal Special statutes within the law
Capital Baku Regulation Self-regulated institution
Securities market regulations Baku Stock Exchange (BSE) and State Committee for Securities of the
Republic of Azerbaijan (SCS) regulations harmonized with the legislation
Area (km ) 86,600 Population (million) 9.6 GDP (USD billion) 68.5 Trading rules Trading rules existing in the BSE
Currency Azerbaijani Manat (AZN) Surveillance BSE and SCS regulations harmonized with the legislation
Exchange rate (1 USD) 0.7844 Corporate actions According to the BSE & SCS Regulations
Time zone GMT+4 Trading halts regulations According to the BSE & SCS Regulations
Calling code +994 Investor protection According to BSE & SCS Regulations
2
key economıc data
INFLATION (%)
9
8
7
6
5
4
3
2
1
0
2009
2010
2011
2012
2013
2014
Best International
Experience
The year of 2014 was symbolical with the
implementation of the Capital Market
Modernization Project funded by the government
of Azerbaijan, World Bank and State Secretariat
for Economic Affairs of Switzerland (SECO) and
managed by the State Committee for Securities
of Azerbaijan Republic. The main objective of this
3-year project is to increase the use of equity and
corporate debt as financing and/or investment
instruments through the adoption of an effective
capital markets regulatory framework and
infrastructure. One of the main components of this
project is Listing Advisory Programme. It is aimed at
12
GDP GROWTH (%) UNEMPLOYMENT (%)
10
9
8
7
6
5
4
3
2
1
0 6.2
2009
6.0
5.8
5.6
5.4
5.2
5.0
4.8
4.6
2010
2011
2012
2013
2014
increasing the demand for investment capital and/
or supply of investment opportunities and securities
on the Baku Stock Exchange (BSE), as part of
processes to build and deepen the capital markets
in Azerbaijan. It aims to introduce companies
and other potential issuers to the BSE and to the
process and advantages of listing and using the
stock exchange to raise long-term risk capital.
Through LAP, we have prepared the interested
companies to get introduced to capital markets as
viable financing alternative, assisted with advisory
services together with our partner companies,
and consulted them for finding new financing
resources. As a result of implementation of this
program, within 1.5-2 years BSE will have increased
the number of listed companies to 12.
2009
2010
2011
2012
2013
2014
“
The year of 2014 was
symbolical with the
implementation of
the Capital Market
Modernization Project.
”
FULL MEMBERS