The requirement for the composition of the Supervisory Boards of the “International Bank of Azerbaijan” (IBA) and “Azer-Turk Bank” Open Joint Stock Companies, which were transferred to the management of the Azerbaijan Investment Holding, has changed, President Ilham Aliyev signed a relevant Decree in this regard, APA reports.
The general management and control of the activities of the “International Bank of Azerbaijan” is carried out by the Supervisory Board consisting of 5 (five) members, including the chairman.
According to the amendment, the requirement for 5 (five) members, including the chairman, is canceled. Thus, the general management and control of the activities of the “International Bank of Azerbaijan” will be carried out by the Supervisory Board.
The requirement for 3 members, including the chairman, regarding the Supervisory Board of “Azer-Turk Bank” OJSC has also been canceled. The general management and control of the activities of the bank will be carried out by the Supervisory Board.
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