Azerbaijan, Baku, Sept. 26 / corr Trend N. Ismayilova /
The Azerbaijani Association of Professional Risk Managers determined members of council of trustees, founder and head of the association, Rufat Mahmud, said.
Head of the CB department on the supervision of credit institutions, Rashad Orujov, was appointed Chairman of the council of trustees and Representative of Amrahbank, Emil Mammadov, became the Deputy Chairman.
According to Mahmud, Representative of the Islamic Development Bank in Azerbaijan, Tamerlan Tagiyev, and head of the Azerenerji Investment Department, Rafael Abbasov, also entered the council of trustees.
"We have also invited the chairmen of other banks and international organizations to participate in it and currently we are waiting for their final response," Mahmud said.
Although the association does not set a limit on the number, the council is expected to admit 10 people in the first stage, Mahmud added.
"It means aid for the association and we do not intend to limit their number," Mahmud said.
The International Finance Corporation (IFC) holds technical support for the association.
The Association was registered in mid-May and currently institutional establishment of association is under way. The formation of the association will affect the reduction of risks in the country's financial sector. The Association has already started cooperation with the Azerbaijani Central Bank and the GARP.
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