Representatives of 'IBA' and 'Kapitalbank' changed in ADIF

The composition of the Board of Trustees of the Azerbaijan Deposit Insurance Fund (ADIF) has changed.

The statement was disseminated by the Association of Banks of Azerbaijan.

The statement says that the decision on the change was adopted at the general meeting of the presidium of the Association - as a result of secret ballot.

According to the decision, Elmir Habibullayev, deputy chairman of the board of directors of ‘International Bank of Azerbaijan’ (IBB), and Farid Hidayatzadeh, member of the board of directors of ‘Kapitalbank’, have been elected as members of the board of directors. They replaced Abbas Ibrahimov, chairman of IBB's board of directors, and Rovshan Allahverdiyev, chairman of 'Kapitalbank'.

Guler Pashayeva, director general of the Central Bank of Azerbaijan (CBA), is currently chairman of the board. Her deputy on the board is another CBA director general Shahin Mahmudzadeh.

Other members of the board are Elnur Aliyev (Deputy Minister of Economy), Sadiq Aliyev (Head of Strategic Planning and Innovation Department of the Ministry of Labor and Social Security) and Ziyeddin Allahverdiyev (Head of Financial Services Policy, Department of the Ministry of Labor and Social Security.)