Association of Azerbaijani Banks Defines Date of Presidium Meeting

Business Materials 13 December 2006 16:29 (UTC +04:00)

Farhad Aliyev, the AAB Executive Director, informed Trend that an initial date of a meeting of the Presidium of the Association of Azerbaijani Banks (AAB) is scheduled for December 19, 2006. The gathering will adopt the staff, estimate of expenditures and incomes of the associations and daughter companies (Azerbaijan Banking Training Center and Banks and Business magazine) for 2007.

The agenda of the gathering includes issues linked with changes in the Tax Code within the 2007 budget package. Particularly, the application of VAT-accounts opening systems in banks and extension of privileges on dividends from deposits and savings from interests for investment securities.

The gathering will also mull the premises of the AAB, the administration of which is placed in a temporary address.

However, the draft Charter of the Association will not be submitted to the discussions of the AAB Presidium, as it is still to be worked on. Presently, the AAB functions on the base of a Charter which was adopted 10 years ago.

A working group comprised of representatives from 7 banks was established for comprehensive development of the draft new Charter with the consideration of proposals.