Turkmenistan creates stock market

/By AzerNews/

By Laman Sadigova

Turkmen President Gurbanguly Berdimuhamedov signed the resolution “On issuance, sale and retirement of public bonds of Turkmenistan”", which is intended to contribute to the qualitative development of the securities market in the country.

This will help establish a single stock market and develop the use of efficient financial instruments in Turkmenistan.

In accordance with the Budget Code and the Law of Turkmenistan “On Securities”, bonds will serve as an additional source of revenue to the state budget for 2016.

The president instructed a supervising vice-premier to ensure the establishment of a stock exchange, development of its instruments, attracting investors and improvement of the banking activities, as well as establishment of the relevant legal framework. The market value of shares and derivative securities is determined in national currency of Turkmenistan.

Not so long ago, Turkmenistan has been listed among top 10 countries for attracting direct foreign investments.