Central Bank presents Securities Issuance System

23-11-2022

23 November 2022, Baku:  The Central Bank takes constant measures to implement the objectives set in the strategic plan for the development of the capital market. As the next activity, the Central Bank held a presentation of the Securities Issuance System, which is expected to be launched in the near future as one of the electronic services on the capital market, in order to create flexible funding options for issuers in the capital market and increase the availability of market access through digital channels. With the launch of the system, the services provided to issuers by the Central Bank, the National Depository Center (NDC) and the Baku Stock Exchange (BSE) in the process of issuing investment securities will be digitized, thereby providing issuers with ‘one-window’ services.

As part of the project, the processes like state registration of investment securities issue, approval of issue prospectuses and information memorandums, state registration of shares issue during reorganization of legal entities, withdrawal of investment securities from circulation, approval of report on issue results, state registration of investment securities issue outside the territory of the Republic of Azerbaijan and making amendments to issue prospectus and  decision on issue have been digitized.

The system offers a number of functionalities to enhance the ability to finance issuers from the capital market. As a result of electronization of processes, issuers will be able to apply to the aforementioned institutions through a centralized single portal and upload required and duplicate documents into the system only once.  It is also possible in the system to electronically conclude agreements with the NDC for storage and accounting of securities in the depository system and with the BSE for listing of securities, to pay the state duty for approval of prospectuses through the system, and to transfer the powers related to the application to a third party through the system. In addition, the system provides such functions as informing issuers about the application status in the form of e-mail and cell phone message and disclosing documents in another CB system, the Electronic System for Information Disclosure.

Representatives of NDC, BSE, ‘Association of Azerbaijan Stock Market Participants’ Public Union and investment companies participated in the event.

At the end of the event, the participants’ questions were answered and the topics of interest were discussed.