Azerbaijan's Association of Banks Preparing for Sitting of Its Presidium

A sitting of the Presidium of the Association of Banks of Azerbaijan is expected to be held in the beginning of the next month, Eldar Ismayilov, President of the Association and President of the Caucasian Development Bank, informed Trend. A project of the Charter of the Association is expected to be held during the forthcoming meeting.

According to him, at present, it is being developed and several sittings of the commissions have been held to discuss it. The Association is not expecting structure changes, the functions, rights, obligations, responsibilities, and authorities of the units of the Association (the authorities of the Conference, Presidium, President, Executive Director). The above-mentioned issues have not been clearly described in the previous Chamber of the Organization, therefore the functions, rights and responsibilities are being made more precise today, pointed out Mr. Ismayilov.

The term of the Presidium will not be changed at all as the Head of the Association pointed out that usually the Association's Vice-Presidents and President are chosen from the team of the Presidium. Therefore, single terms should be fixed.

I hope that in the beginning of December, we will hold a sitting of the Presidium where the project of the Chamber will be discussed. And should we come to an agreement, then we shall determine the day of the Conference the Supreme Body of the Association. But now it needs to be more detailed. In any case, the meeting of the Conference where the new Chamber is to be approved is expected to be held no earlier than 2007. I think that the new Chamber will be as a united one like the previous Chamber that has worked over ten years, said Mr. Ismayilov.

A lawyer from the United States Association of Banks is rendering his assistance in preparing the Chamber of the Association. The experience of such countries like Belarus, Kazakhstan, Russia, etc has been studied as well. Furthermore, a working group consisting of representatives from 7 banks has been working on improving the above-mentioned project.

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