Azerbaijan, Baku, May 23 / Trend, N. Ismayilova /
The Azerbaijani Risk Professionals Association (ARPA) has signed an agreement with the International Finance Corporation (IFC), under which two products will be developed, Association head Rufat Mahmud said on Saturday.
"Under the agreement signed with IFC two products - risk management methodology and risk management portal will be developed," Mahmud said.
He said the first product envisages ARPA specialists' training and adoption of the IFC methodology. The Association will present IFC product on the market after completing this project.
"IFC will also help to create a risk management portal. It will contain all the information on international standards, domestic legislation, literature and analytics in the field of risk management," he said.
The purpose of establishing ARPA is to help to reduce risks in the financial sector of Azerbaijan. The association cooperates with the Central Bank of the country, the IFC and the Global Association of Risk Professionals (GARP).