Three of the five Supervisory Board members of Deka Bank, Rafael Aghayev, Sarkhan Hasanov and Ramal Guliyev were dismissed.
According to the bank, the Board now includes the newly appointed Lala Aghazadeh, the chairman Suraya Aghayeva and Azer Huseynov.
The general meeting of shareholders dismissed the Board chairman Niyazi Valiyev and appointed Ismayil Aliyev instead. In addition, there were a number of less significant appointments.
JSC Deka Bank is the first private bank of Azerbaijan, with a registered capital of 54 million 967 thousand manat, operating since 1989.
The bank's founders are private individuals. The latest data are not available. However, at the beginning of 2014, 30.4% of the business was oened by Rafael Aghayev, who left the business, 19.61% - by Niyazi Valiyev, and 9.99% - by Suraya Aghayeva, Vafa Alizadeh, Lala Aghazadeh, Rahil Ahmadov and Azer Huseynov. The majority of the shareholders are relatives of the former assistant to the President Tariel Aghayev. --17D-
Economics
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