Supporting Capital Market Development and Reform in Developing Asia: Country Assessment Report for Azerbaijan
Published on 1. April 2026
50 pages
978-92-9277-768-5 (ISBN)
Description
This technical review shows how Azerbaijan can boost its capital market infrastructure and reinforce its securities clearing and settlement framework to align with international standards and improve market efficiency and transparency.
It looks at the role, functions, and risks of the National Depository Center (NDC) which now serves as a settlement agent following a 2023 Law on Securities Market amendment. Pinpointing gaps in the guarantee-based settlement mechanism, it recommends Azerbaijan consider steps including establishing a clearing fund and introducing margin management. It explains why developing the NCD into a central counterparty would also help support the country's capital market development.
