Azerbaijani women in the financial sector

The article is dedicated to March 8, International Women's Day.  

Like all over the world, women in Azerbaijan are represented in different sectors of the economy. The financial sector is not an exception to this. There are dozens of women who are shareholders (founders) of banks, non-bank credit organizations (NBCOs), credit unions, insurance and investment companies, and who lead these financial institutions. These representatives of the weaker sex can also include women-financiers.

Women bankers  

It should be noted that the shareholders of at least 8 of 26 banks in Azerbaijan are women. They include the "Azerbaijan Industrial Bank" (ASB), "Bank BTB", "Gyunaybank", "Muganbank", "Premiumbank", "Rabitabank", "Unibanank" and "Elobank". Two of them are women who own shares in AIB and Yelobank and are not citizens of Azerbaijan. Thus, Leyla Gezel Gurd, who owns 1% of shares in LBA, is a Turkish citizen and the daughter of Abdulbari Gezel, president of Azersun Holding (a subsidiary of the bank), and Marina Kulishova, who owns 3.9% of Yelobank, is a Russian citizen and director of Topaz Investments, the bank's main shareholder.

As for the rest 6 banks, then 74.99% of shares of BTB Bank belong to Nigar Mehdiyeva (daughter of former head of the Presidential Administration and former president of the National Academy of Sciences of Azerbaijan Ramiz Mehdiyev), 6% - to Tukazmanrkaman Mahmudova, 40.05% of shares of GunayBank - Egana Shirinova (wife of the main shareholder of the Bank Mahmud Mammadov), 2.67% - Gunay Yildirimzadeh (daughter of M. Mammadov and daughter-in-law of former prosecutor of Khatai district of Baku Yusif Yildirimzadeh), 2.31% - Khanim Mammadova, 10.65% - Vafa Veliyeva (former deputy, daughter of the rector of Odlar Yurdu University Ahmed Veliyev), 10.03% - Farida Mehdiyeva, 84.46% - Zarifa Hamzaeva (wife of president of Azerbaijan Airlines Jahangir Asgarov), 0.32% - Elvira Ahmedova, 30% - Valida Abbadova, 9.11% - Dilara Nurieva (other bank's shareholders and wife of president of Public Association of Azerbaijan Banks Association Zakir Nuriev) and about 3% of Unibank's shares are controlled by Zemfira Jafarova.

Microfinance women

Women are the shareholders (founders) of at least 12 out of 56 non-commercial organizations in Azerbaijan. For example, 50% of the founding shares of Azinvestcredit belong to Tamara Ismailova, 74.9% of Brand Credit - Yegiana Veliyeva, 2.8% - Shabnam Veliyeva, 14% of Embafinance - Tamara Polyakova, 50% of Falcon Finance - Brilliant Salmanova, 19% of Finex Credit - Shalala Tagiyeva, 18.3% - Ramina Allahverdiyeva, 2%-Gulnara Tagiyeva, 1.6%-Sevil Khidayatova, about 30%-Narmin Huseynzade, 2.4%-Sabina Israfilova, 1.6%-Taira Gurbanova, 1.3% shares belong to Fatma Abbasova, 25%-Huraman Gubadova, 33.4%-Khalisa Aminova, 33.3%-Zuleikha Rasulova, 15.5%-Alevtina Guliyeva, 9.8%-Tamilla Hajiyeva, 34%-Prime-Credit. Shahla Mehtiyeva, 33%-Valida Azizova, 33%-Ilakha Bakhshaliyeva, 35.7% of "Pro Credit" shares belong to Rena Mammadova.

The heads of three NCOs are also women. So, "Azinvestcredit" is headed by Sabina Veliyeva, "M Bulak" - by a citizen of Kyrgyzstan Alta Shakirova, "Viator microcredit" - by Aynur Aliyeva.

Out of 46 credit unions in Azerbaijan two are headed by women. So, the management of "Inci Kredo" was entrusted to Aminahanym Maharramova and the management of "Stimul" to Marifa Agayeva.

Women insurers

Shareholders of at least 3 out of 20 insurance companies in Azerbaijan are women. These companies are "Günay Insurance", "İpək Yolu Insurance" and "Meqa Insurance".  Egyana Shirinova controls 67.55% of shares of Günay Sığorta, 77.48% - Jemila Askerova and Malahat Askerova (daughters of Jahangir Askerov) and 38.74% of shares of İpək Yolu Sığorta each, 19% of shares of Meqa Sığorta are controlled by Nazakat Ismailova. The chairman of the board of "Meqa Sığorta" is a woman - Sevinj Gulmaliyeva.

Women investors  

At least 2 out of 12 investment companies in Azerbaijan are women as shareholders. Thus, "CPM-Invest" investment company is fully controlled by Kamala Mammadova, and "MFX-Trading" investment company by Zarifa Hasanova - about 30% of shares.--0-