Azerbaijan’s depositary centre engages with US bank on capital market ties

Elchin Alizada, Chairman of the Board of Directors of the National Depositary Centre (NDC), met with officials from the Bank of New York Mellon (BNY Mellon) during their visit to Azerbaijan to discuss collaboration and market development.

During the meeting, NDC officials provided an overview of the centre’s role and its strategic plans within Azerbaijan’s capital market ecosystem, Caliber.Az reports per NDC.

Discussions focused on BNY Mellon’s potential contributions in introducing new financial products to the domestic market, its prospective membership as a nominee custodian for the NDC, and the opening of accounts to facilitate investment operations.

The NDC’s 2024–2026 development strategy emphasises the importance of fostering relationships with international financial institutions and depositaries, a move aimed at expanding the centre’s range of activities and integrating Azerbaijan more deeply into global financial markets.

By Sabina Mammadli