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The Baku Stock Exchange (BSE) (Azerbaijani: Bak? Fond Birjas?, BFB) is the main stock exchange in Azerbaijan. A member of the Federation of Euro-Asian Stock Exchanges (FEAS), BSE is organized in the form of a closed joint stock company with 20 shareholders.[1] BSE trades short-term treasury bonds, common stocks (primarily from former state-owned enterprises that have been privatized, including food and beverage, construction and banking companies), and foreign currency futures.

BSE carries out trading corporate securities. Trading, on primary and secondary markets of government securities (T-bills of the Ministry of Finance of Azerbaijan and banknotes of the Central Bank of Azerbaijan) are carried out solely at BSE. The state regulatory authority for the stock exchange and the Azerbaijani securities market is the Financial Markets Supervisor Authority. Trading hours for all markets are during Monday through Friday between 10:40-16:30 (local time, GMT+4).

Azerbaijan has not been as truly influenced by the world monetary emergency as have numerous different nations, yet it has not been completely safe both due to decreases in the cost of oil, Azerbaijan's real fare worker and of issues with liquidity in the nation's managing an accounting framework. The effect of falling oil costs has gotten a lot of consideration, however, the impact of the emergency on the liquidity of the banks has not, despite the fact that the banks make up 70 percent of the non-oil GDP of the nation. 

On account of the extent of this segment, any issues with Azerbaijan's banks can have a noteworthy effect. One reason for concern is that amid 2007, the nation's business banks trebled their outside obligations to 2.5 billion US dollars, with the vast majority of these in here and now credits (CESD 2009). As a result of that course of action, roughly 50% of these obligations must be reimbursed similarly as the monetary emergency hit in 2008, in this manner put a specific weight on the nation's banks. 

As Najafov (2009) has called attention to, the high proportion of here and now too long haul obligation focuses to conceivable Ponzi financing plans by nearby banks, in this way making them considerably more in danger of disappointment. Also, regardless of the possibility that that isn't the situation, returns on resources (ROA) fell by about a large portion of a rating point to 2.2 percent, with benefits becoming quicker than resources, as indicated by the CBA (2009). Profit for value additionally fell. What's more, both of these advancements reflect higher intrigue and non-intrigue costs because of the emergency. 

There are different sings that point to liquidity issues too. From one perspective, there has been a decrease in credits reached out to shoppers. What's more, on alternate, banks have lessened their contribution in the securities and treasury charge segment. The obligation advertises in Azerbaijan is overwhelmed by CBA notes – approximately 91 percent of the aggregate – and treasury bills. The arrangement of notes fell by more than 66% amid the principal quarter of 2009, and the optional market fell practically as much with respect to a year sooner. These decreases, experts have finished up, mirror the more preservationist techniques the banks have embraced to address their liquidity issues. 

Accordingly, the Central Bank lessened the renegotiating rate from 15 percent to three percent in five stages and lifted the five percent save necessity on the remote liabilities of banks. Likewise, it cut hold prerequisites on household liabilities down the middle from 12 percent to six percent. These progressions created an extra 438 million US dollars for the framework. In any case, every one of these progressions have not prompted a critical lessening in financing costs on bank credits, a sign that the effect of brought together advances has not been incredible in view of the generally little volume and on the grounds that the banks are more worried about their own liquidity than about invigorating the business segment. 

The Central Bank asked the nation's banks to reassess hazards so as to enable the market to recoup. In the meantime, it fixed the prerequisites on the quality and securitization of managing account resources with a specific end goal to enhance the money related establishment of the banks. What's more, the Central Bank took some extra activities so as to guarantee that outside obtaining could proceed at sheltered and reasonable levels. These means diminished the danger of Ponzi financing, however, it is as of now obvious that decreased financing from abroad requires the presentation of more neighborhood assets, particularly since Central Bank credits can't fill in as an option.

In the interim, the Azerbaijani government postponed the expense on the benefits of banks for 2009 through 2012. That will support the productivity of the banks in the medium term yet not address a significant number of the transient impacts of the budgetary emergency. Also, the circumstance is not kidding. As per the Fitch evaluations (2009), two noteworthy banks in Azerbaijan, AGBank, and Texnikabank have tumbled from stable to negative, given "the officially critical levels of non-performing advances" at the previous and "the high offer of rebuilt advances" at the last mentioned. Likewise, Fitch has downsized Unibank's appraising from D/E to E given its liquidity issues. 

In light of these issues, Azerbaijani monetary specialists have approached the Central Bank to consider allotting some portion of the republic hold subsidizes in Azerbaijani banks to their benefits with the goal that they will be in a position to help the business area, finding a way to guarantee that people, in general, do not lose trust in the banks by expanding the certifications of contributors' records, and resuscitating the home loan part by means of the State Mortgage Fund which ought to get extra-budgetary cash also. 

Different assets, for example, Islamic back, could make a significant commitment, the specialists say. Islamic banks at present seem stronger to the worldwide emergency than do ordinary banks since they are not occupied with premium based operations and have a tendency to maintain a strategic distance from theoretical instruments, for example, subsidiaries (Timewell 2009). When the world is encountering an exceptional money related emergency, Islamic banks are being hailed as "bastions of solidness" (Quinn 2008, p. 1). What's more, to draw on their quality, Azerbaijan needs to consider changing the nation's lawful codes to just for a more extensive operation of worldwide Islamic money related establishments in Azerbaijan.

The Azerbaijan Democratic Republic broadcasted its freedom in 1918. The nation was fused into the Soviet Union in 1920 as the Azerbaijan Soviet Socialist Republic. The cutting-edge Republic of Azerbaijan broadcasted its autonomy on 30 August 1991, preceding the official disintegration of the USSR in December 1991. In September 1991, the Armenian dominant part of the debated Nagorno-Karabakh locale withdrew to frame the Nagorno-Karabakh Republic.[9] The area and seven contiguous areas outside it progressed toward becoming true free with the finish of the Nagorno-Karabakh War in 1994. These districts are universally perceived as a component of Azerbaijan pending an answer for the status of the Nagorno-Karabakh, found through transactions encouraged by the OSCE.

Azerbaijan is a unitary semi-presidential republic. The nation is a part condition of the Council of Europe, the OSCE and the NATO Partnership for Peace (PfP) program. It is one of six autonomous Turkic expresses, a dynamic individual from the Turkic Council and the TÜRKSOY people group. Azerbaijan has conciliatory relations with 158 nations and holds participation in 38 global associations. It is one of the establishing individuals from GUAM, the Commonwealth of Independent States (CIS) and the Organization for the Prohibition of Chemical Weapons. An individual from the United Nations since 1992, Azerbaijan was chosen to participate in the recently settled Human Rights Council by the United Nations General Assembly on 9 May 2006. Its term of office started on 19 June 2006. Azerbaijan is likewise a part condition of the Non-Aligned Movement, holds eyewitness status in World Trade Organization and is a reporter at the International Telecommunication Union.

The Constitution of Azerbaijan does not proclaim an official religion and all major political powers in the nation are the secularist. Be that as it may, most the populace comprises of Shiite Muslims. Azerbaijan has an abnormal state of human advancement which positions keeping pace with most Eastern European nations. It has a high rate of monetary improvement and proficiency and in addition a low rate of joblessness.

Notwithstanding, defilement in Azerbaijan is across the board, particularly in the general population benefit. The decision party, the New Azerbaijan Party, has been blamed for tyranny and human rights mishandle.

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The manat (code: AZN) is the currency of Azerbaijan. It is subdivided into 100 qəpik. The word manat is borrowed from the Russian word Монета "moneta" (coin) which is pronounced as "manta" and is a loanword from Latin. Manat was also the designation of the Soviet ruble in both the Azerbaijani and Turkmen languages.

The Azerbaijan Democratic Republic and its successor the Azerbaijani Soviet Socialist Republic issued their own currency between 1919 and 1923. The currency was called the manat (منات) in Azeri and the ruble (рубль) in Russian, with the denominations written in both languages (and sometimes also in French) on the banknotes. The manat replaced the first Transcaucasian ruble at par and was replaced by the second Transcaucasian ruble after Azerbaijan became part of the Transcaucasian Soviet Federal Socialist Republic. No subdivisions were issued, and the currency only existed as banknotes..

The second manat was introduced on 15 August 1992. It had the ISO 4217 code AZM and replaced the Soviet ruble at a rate of 10 rubles to 1 manat. From early 2002 to early 2005, the exchange rate was fairly stable (varying within a band of 4770–4990 manat per US dollar). Starting in the spring of 2005 there was a slight but steady increase in the value of the manat against the US dollar; the reason most likely being the increased flow of petrodollars into the country, together with the generally high price of oil on the world market. At the end of 2005, one dollar was worth 4591 manat. Banknotes below 100 manat had effectively disappeared by 2005, as had the qəpik coins.

On 1 January 2006, a new manat (ISO 4217 code AZN, also called the "manat (national currency)") was introduced at a value of 5,000 old manat. Since 1 October 2005, prices have been indicated both in new manats and in old manats to ease the transition. Coins denominated in qəpik, which had not been used from 1993 onwards due to inflation, have been reintroduced with the redenomination. The former manat (ISO code 4217 AZM) remained valid through 31 December 2006.