Central Bank launches Securities Issuance System

02-12-2022

2 December 2022, Baku: As part of the implementation of the tasks set out in the Strategic Plan for the Capital Market Development and in the Action Plan 2022 of the Corporate Governance, Investments, Investor Protection, Business Ethics and Corporate Social Responsibility Working Group of  the Business Environment and International Ratings Commission, the Central Bank of the Republic of Azerbaijan created a Securities Issuance System and launched on 2 December 2022. 

The System enables the Central Bank, the National Depository Center and the Baku Stock Exchange to provide issuers with electronic services for state registration and placement of investment securities (shares and bonds). This System aims to create flexible financing  opportunities in the market by expanding the use of e-services in the capital market and make the financial services more accessible through digital channels.

The system provides for electronic operations on state registration of investment securities issue, approval of issue prospectuses and information memoranda, state registration of share issues in case of mergers, splits, increases or decreases in the nominal value of shares, state registration of share issues upon reorganization of legal entities, withdrawal of investment securities from circulation, approval of issue reports, state registration of investment securities issues outside the territory of the Republic of Azerbaijan, and state registration of additions and changes to issue prospectuses and decisions on the issue.

Previously, issuers had to apply separately to all three institutions and the necessary documents were submitted in paper form. The implementation of the process on a single portal and electronisation of transactions will make an important contribution to the development of the capital market in our country, improve the quality of service in this area and ensure the convenience of issuers.

Individuals seeking equity and bond financing, as well as investment companies providing underwriting services, can use the system by accessing the http://securities.e-cbar.az.