The American Chamber of Commerce in Bulgaria has joined the Council for Capital Market Development in Bulgaria as an associate member. The Council was created on Oct. 10, 2016 by the Central Depository and Bulgaria’s Financial Supervision Commission (FSC) in partnership with 15 local associations. The Council is represented by the partnering associations and will act as a platform for cooperation between market participants in the non-banking financial sector.
Venislav Yotov, vice-president and Valentin Georgiev, executive director represented the Chamber during the official ceremony of the establishment of the Council.
One of the key objectives of the newly created Council is to provide an effective mechanism for consultation between government institutions and relevant stakeholders from the non-banking financial sector on issues related to the capital market development in the country.
“We at the FSC have not only outlined the main weak point of the Bulgarian capital market, but will also propose practical solutions at the forthcoming Council meetings,” said Karina Karaivanova, chairman of the FSC. “As a regulatory body, we promise that we will fully engage the expertise of the Commission in order to propose to the Council meaningful solutions for the capital market,” she added.