Azerbaijan to launch GARP certification center in 2011

Business Materials 22 November 2010 15:55 (UTC +04:00)

Azerbaijan, Baku, Nov. 22 / Trend N.Ismayilova /

The Azerbaijani Risk Professionals Association (ARPA) will soon launch the Global Association of Risk Professionals' (GARP) Certification Center, ARPA head Rufat Mahmud said today.

"The center will certify specialists in risk management in accordance with international standards in an online mode in Azerbaijani," he said.

Mahmud added that individuals who pass the test will receive a GARP certificate.

"It is expected that the center's 'test drive' will run about four months," he said. "Thus, the launch will be scheduled for 2011."

In May, GARP's Board of Trustees approved the opening of the organization's Azerbaijani representative office to strengthen regional cooperation.

GARP contributes to regional development by supporting risk managers. GARP provides risk education to professionals of all levels, through on-site and online workshops, and skills-based training. The association has over 100,000 members. GARP has offices in 40 countries.

The ARPA was registered in mid-May 2009. The structure was created to reduce risks in the financial sector. The association has started cooperation with the Central Bank of Azerbaijan, IFC and GARP.