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New rules for the operation of Stock Exchanges are introduced in Turkmenistan, which oblige their owners to obtain a license to operate. The corresponding Resolution "for the further development of the securities market" and in accordance with the Law of Turkmenistan "On licensing of certain types of activities" was signed by President Serdar Berdimuhamedov at a Government meeting today, the Information Program "Watan" of the Turkmen Television reported.
The Ministry of Finance and Economy of Turkmenistan should manage licensing of financial market (activities of Stock Exchanges only) according to the document. At the same time, a state fee was imposed for the issuance of a license for this small type of activity.
Signing the Resolution, President Serdar Berdimuhamedov noted that the securities market, as an integral part of the financial and credit system, is an object of state regulation, the purpose of which is to protect the interests of investors from illegal actions.
Stock Exchanges are founded to trade government bonds, expand opportunities to attract investments from other countries and intensify export volumes.