On September 24, 2025, The Baku Stock Exchange took part in the Azerbaijan Fixed Income Forum, organized by the American Chamber of Commerce in Azerbaijan (AMCHAM). The event, dedicated to the “Role of International Financial Institutions (IFIs) in Local Financial Markets,” brought together leading experts and market participants to discuss opportunities for deepening Azerbaijan’s fixed income market.

The panel discussion was moderated by Mr. Vugar Namazov, Deputy Chairman of AMCHAM’s BFI Committee and CEO of Unicapital Investment Company OJSC, and featured contributions from distinguished speakers:

• Isabelle Laurent, Deputy Treasurer & Head of Funding, EBRD, highlighted the benefits of IFIs issuing bonds in local currencies, emphasizing the importance of reducing currency risks for issuers and investors, while drawing on global best practices to strengthen Azerbaijan’s domestic bond market.
• Talat Kalayev, Director, Unicapital Investment Company OJSC, discussed how IFI participation can influence the behavior of local issuers and investors, noting the potential to encourage more Azerbaijani corporates to consider bonds as a sustainable financing instrument. 
• Metin Yolchiyev, Director of Operations, Baku Stock Exchange, underlined the Exchange’s role in creating an attractive environment for IFIs and bond issuers. He emphasized the importance of such issuances for building a more liquid and diversified secondary market and shared how digitalization is enhancing transparency, efficiency, and investor confidence in Azerbaijan’s capital markets.
• Agshin Azizov, Head of Corporate Services, ABB-Invest, covered topics related to How upcoming FRN issuance by EBRD will open door to issuance of different types of instruments in Azerbaijani Capital Markets and how will issuers benefit from new types of instruments while fund raising, and how new types of instruments will meet needs of investors.

The Forum reaffirmed the importance of collaboration between IFIs, regulators, and local market institutions in shaping a more resilient and dynamic fixed income market in Azerbaijan.