Baku, Azerbaijan, Dec. 23
By Azad Hasanli – Trend:
Hidayat Sultanov has left the position of director general at the International Bank of Azerbaijan (IBA), according to the message posted on the bank’s website.
Currently, the bank has two director generals – Vasif Ahmadov and Fuad Islamov.
Sultanov has served as the bank’s director general since 2015 and has left the position at his own request.
Management changes have started at the IBA since Dec. 8, when Elmar Mammadov, chairman of the IBA, has been dismissed upon the decision of the IBA Supervisory Board. Khalid Ahadov was appointed IBA acting chairman, as well as member of the bank’s board.
Later, Vasif Ahmadov was appointed new director general of the bank in mid-December. Ahmadov succeeded Abbas Nasibov at that position.
The International Bank of Azerbaijan was founded in 1992. Some 55 percent of the bank’s shares belong to the country’s Ministry of Finance and 27.3 percent - Aqrarkredit state non-bank credit organization. The rest 17.7 percent of shares belong to the individuals.