Replacement at Board of Directors of Azerbaijani Micro Financing Bank

Azerbaijan, Baku, 25 July / Trend / Next changes were held at the board of directors of the Azerbaijani Micro Financing Bank (AMFB). Shakir Rahimov, who worked at the bank since its establishment in 2002, replaced Alexander Larionov, LFS consultant, in the position of director of business banking business at the board of directors, the AMFB said. This change came into force after successful accreditation of the employee by the Azerbaijani National Bank (ANB).

All employees of the AMFB are trained under leadership of international consultants and their mission is to train local senior personnel. At present more than 700 people work at the AMFB and majority of senior positions belong to Azerbaijanis.

"I began to work as a credit specialist-probationer at the AMFB. The bank gave great opportunities for professional development not only to me, but also to many other employees. I hope that in future my presence at the board of directors and participation in the development of our bank, which is a leader in the field of micro financing, will be useful," Rahimov said.

Andrew Pospilovski, the general manager, said that the AMFB implements double role in the Azerbaijani economy, including financing the growth of small business and assistance in the development of bank sector through preparation of local personnel. I am too glad that at present Azerbaijanis occupy majority of senior positions in our bank. Over six years Rahimov gained all ranks at the AMFB within- from ordinary credit specialist-probationer to the member of the board of directors. We employ more than 200 graduates of universities and train them in professional banking every year.

The AMFB possesses 100% of foreign capital and is the property of six founders, including the European Bank for Reconstruction and Development, the International Financial Cooperation, the Black Sea Bank of Trade and Development, KfW German Development Bank at the German Government, LFS Financial Systems GmbH German Consulting Company and AccessHolding, strategic investor in micro financing.