Ashgabat Stock Exchange spoke about plans for the development of the securities market
Representatives of the Ashgabat Stock Exchange (ASE) and the United States Agency for International Development (USAID) spoke about plans to develop the securities market in Turkmenistan, an ORIENT correspondent reports.
The information was announced as part of the ceremony of awarding certificates on completion of courses on brokerage services and the issue of securities, which took place in April-June 2022.
It became known that in the next three years, with the support of USAID, the ASE will promote the emergence of private brokerage and investment companies in the country, the creation of a central depository for securities settlements, and the formation of a favorable market environment for investors and issuers.
It is planned to introduce an electronic trading system and launch new financial products at the Ashgabat Stock Exchange, including corporate bonds, REPO, exchange investment funds, derivatives, etc.
ASE plans to strengthen cooperation with foreign exchanges and is considering the possibility of a joint listing of securities. It is also planned to establish a full-fledged work of the training center of the exchange.
The ASE and USAID courses for brokers and issuers helped increase the number of private securities brokers by 25 people and provided information on opportunities to raise funds through the issuance of corporate shares and bonds to 45 owners and managers of Turkmen companies.
Presenting certificates and addressing course participants, USAID Representative in Turkmenistan Nino Nadiradze said: “You are all pioneers and creators of this path. Through your determination to try new activities and fundraising methods, you will move the economy forward.”
The ASE was founded in 2016 and acts as the lead organization in shaping capital markets in the country. USAID and ASE are working on a roadmap that is expected to create a sustainable and well-functioning capital market in Turkmenistan.
ORIENT news
