BAKU, Azerbaijan, April 15. An extraordinary general meeting of the shareholders of "Aqrarkredit" Closed Joint Stock Company (CJSC) was held on April 15, 2025, Trend reports, citing the Azerbaijani Ministry of Finance.
According to the ministry's statement, the meeting, chaired by Minister of Finance Sahil Babayev, focused on the formation of a new board of directors due to the expiration of the terms of the current members.
Under the regulations of "Aqrarkredit" CJSC, members of the board are selected for a term not exceeding four years by the shareholders' general meeting.
Babayev expressed gratitude to the board members, including the chairman, Mammad Musayev, for their work, highlighting that "Aqrarkredit" CJSC has been a stable and profitable financial institution providing banking services to the country's agricultural sector. He also noted the institution's effective performance in managing and optimizing the problematic assets of the "International Bank of Azerbaijan" CJSC and in recovering overdue loan debts.
The shareholders' meeting confirmed the new board members of CJSC. Based on the meeting’s decision, Ilham Kalashov, Rajab Huseynov, and Jahid Guluzade were elected as new board members. Kalashov was appointed the first deputy chairman and the acting chairman, while Huseynov was named deputy chairman.
Minister Babayev congratulated the new members of the board and expressed his confidence that "Aqrarkredit" CJSC would continue to contribute significantly to socio-economic development in the regions, providing loans to businesses in rural areas and improving the quality of financial services to the population. He emphasized that the institution’s efforts would align with the purposeful policies of the President of the Republic of Azerbaijan, Ilham Aliyev, to improve the welfare of the people and strengthen the country's economy.
"Aqrarkredit" CJSC was established by the Cabinet of Ministers of the Republic of Azerbaijan with an order dated April 14, 2001, and is the legal successor to the Azerbaijani Agricultural Industry Bank.
In line with Presidential Decree No. 144, dated August 7, 2009, "On the Procedure for State Participation in the Management of Banks and Non-Bank Credit Organizations with State-Owned Shares in Their Authorized Capital," the Ministry of Finance serves as the sole shareholder of "Aqrarkredit" CJSC. The state holds 100 percent of the shares in "Aqrarkredit" CJSC. The company operates through its head office and 12 regional branches.
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