Board for Financial Stability created

Ilham Aliyev signed a decree on the establishment of the Financial Stability Board. The text of the document was published on the website of the President, said that this structure is created in order to "minimize the impact of negative processes occurring in the world in the light of the global crisis," "creating a favorable economic environment," "trust in the banking system", "profitable conditions for entrepreneurs. "

The news structure has been created to "ensure that all of these conditions and to coordinate measures taken" and create a new structure, which will be headed by Prime Minister Artur Rasizade, said the decree.

Besides him, the Board included: Natig Amirov - Assistant to the President for Economic Reforms;

Samir Sharifov - Minister of Finance;

Shahin Mustafayev - Minister of Economic Development;

Elman Rustamov - Head of the National Bank;

Rufat Aslanli - the head of the Chamber of Control for the financial markets;

Shahmar Movsumov - head of the State Oil Fund.

Within a month the Council  is to prepare an analysis of the financial system and the country's market conduct examination of legislation in this area, to make proposals to pre-empt possible negative effects in the financial sector, taking into account international experience.

To report to the Head of State on these matters at the end of each quarter.-02D-