The issue of establishing non-governmental pension funds will become possible for Azerbaijan after developing the financial markets.

Mediamax reports referring Trend, that Azerbaijani Minister of Finance Samir Sharifov said this. According to him, the government should elaborate the allocation order for those pension funds to avoid cases of allocating funds for venturesome operations.

The draft law “On non-governmental pension funds” was proposed to Azerbaijani government in August 2005.