OREANDA-NEWS. Xalq Bank has become a new member of the guaranteed money market (GDR) in Bourse E-System of Trades (BEST) of the Baku Interbank Currency Exchange (BBVB).

BBVB reports that Xalq Bank became a new member in accord with the decision of banks participating in the GDR segment.

"Thus, the number of participants in the GDR has increased up to 12 banks," BBVB informed.

On 21 October 2009 the Central Bank of Azerbaijan, BBVB and a number of banks which are market makers of the money market (OJSC Demirbank, OJSC AGBank, Nikoil Bank, CJSC Bank Standard, OJSC Pashabank, OJSC Unibank, and OJSC Bank of Baku) signed a collective agreement which is the legal basis for a new segment of the money market.