Central Bank of Azerbaijan

Central Bank Of Azerbaijan

Central Bank
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Central Bank of Azerbaijan

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Description:
The Central Bank of Azerbaijan (CBA, ) is the central bank of Azerbaijan Republic. The headquarters of the bank are located in the capital city Baku.

Mission and ownership

CBA is Azerbaijan's monetary authority, and is responsible for the conducting the country's monetary policy and regulation of the banking and payment system. Primary objective of CBA as stated in the Act on CBA is price stability. Secondary objective is to support a banking and payment stability.

The CBA is owned by the Republic of Azerbaijan and managed by the Executive Board of the CBA. The Board is responsible for the supervising the administration and activities of the bank and for other statutory tasks. The bank is governed under the Act on the CBA, passed in 2004.

The bank has regional branch offices in Nakhichevan, Ganja, Yevlakh, Khachmaz, Goychay and Bilasuvar

Executive Board

The Executive Board is composed of the Governor, who is the chairman of the Board, and 4 members appointed in double process by President and the National Assembly.

Governor - Elman Rustamov

Board Members - Alim Guliyev, Aftandil Babayev, Vadim Khubanov and Khagani Abdullayev

History

In early 1992, former Soviet banks were incorporated into the National Bank of Azerbaijan; The 1992 Law on Banks and Banking Activity and the Law on the National Bank...
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