ABA head elected Central Eurasian Banking Federation president

The Azerbaijani Association of Banks (ABA) head Eldar Ismailov was elected president of the Central Eurasian Banking Federation within the first meeting of the founders of the banking federation held in Baku on May 27.

The head of the Turkish Association of Banks Huseyn Aydin and the head of the Ukrainian Association of Banks Aleksandr Sugonyak were elected vice-presidents of the federation.

The presidium of the federation was elected for a term of two years. The head of the Kyrgyz Union of Banks Anvar Abdrayev was elected head of the audit committee. Yunus Abdullayev was elected executive secretary of the Federation.

The amount of dues and fee to join the federation at a rate of $1,000 a year has been approved within the meeting. The amount may be reviewed a year later.

The Azerbaijani Ministry of Justice registered the Central Eurasian Banking Federation in August 2010. The founders of the federation are the Associations of Banks of Azerbaijan, Georgia, Kyrgyzstan and Ukraine. The Association of Banks of Turkey and Tajikistan are the federation members.

The headquarters of the Central Eurasian Banking Federation is located in Baku. The federation will include the Association of Banks in Central Europe and Asia. They will jointly develop a policy of developing the banking and monetary systems.


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