House of Supervision over Financial Markets Led by Rufat Aslanli

Azerbaijani President Ilham Aliyev appointed Rufat Aslanli Chairman of the Board of Directors of the legal entity of public law - the House of Supervision over Financial Markets.

Rufat Aslanli was born in Baku in 1970. He graduated from Azerbaijan State Economic University. In 1995-2007 he worked at the Central Bank of Azerbaijan, including the General Director's office and the Deputy Chairman of the Board.

In November 2008, Aslanli was appointed Chairman of the State Securities Committee.

In February 2016 he was appointed head of the working group on the establishment of the House of Supervision over Financial Markets.

The House was established for licensing, regulation and supervision of the securities market activities, investment funds, insurance companies and credit institutions (banks, non-bank credit institutions and the postal operator) and payment systems, including improvements in the control system in the counteraction to legalization of money or other property received by criminal way and financing of terrorism, as well as to ensure the transparency and flexibility of the control system in these areas.

With the creation of the House the State Committee for Securities, the State Service for Insurance Supervision under the Ministry of Finance, and the Financial Monitoring Service under the Central Bank are canceled.

The House will be managed by the Board of Directors composed of five members, who will be appointed and dismissed by the head of state.    -06D--