Azerbaijan, Baku / Trend corr I. Khalilova / The Azerbaijan Bank Association (ABA) is preparing to submit its new charter to the Azerbaijani Justice Ministry for approval, which was agreed upon at a conference held on 17 July, the Executive Director of the Association, Farhad Aliyev, reported on 30 July.
ABA is functioning on the basis of a charter adopted 10 years ago.
The renewed document specifies the functions, rights, obligations, and the liabilities, authorities of structure elements of the ABA (authorities of the conference, presidium, president, executive director). These issues were not precisely specified in the old charter.
In accordance with the new charter, the executive committee and the auditor committee of ABA will be summoned for a 5-year term. The meetings of the executive committee should be held at least once every quarterly period per year.