Azerbaijan

The Central Asian countries, Azerbaijan and Mongolia have gradually developed their securities markets with their banking sector reforms after the collapse of the communist regime. Although the market infrastructure in the region has been moderately developed with the support of international organisations, however, their securities markets are typically small in scale and still have the weaknesses.

Azerbaijan, as the other countries in transition, is included in the wide processes of economic development. Azerbaijan, passing through phase of the general economic growth, has entered the second phase of the economic development, where the main direction is the effective financial market formation. This is the basis of the country’s institutional reforms.