Management of Azerbaijani AzerTurkBank being improved thought President's Decree

News | 16.07.2022

President of the Republic of Azerbaijan Ilham Aliyev signed a Decree on improving the management of AzerTurkBank OJSC.

In accordance with the decree, in connection with the implementation of the Order of the President of Azerbaijan No. 2907 dated September 22, 2021 "On the transfer of AzerTurkBank OJSC and the State Insurance Commercial Company to the management of the Azerbaijan Investment Holding" and the settlement of a number of issues arising from this, it is decided:

-To the extent that the state's shares in the authorized capital of AzerTurkBank OJSC (hereinafter referred to as the Bank) allow the right to participate on behalf of the state in resolving issues related to the powers of the general meeting is assigned to:

-President of Azerbaijan:

  • - Sale, reorganization and liquidation of the bank;

- Azerbaijan  Investment Holding (in agreement with President)

  • Election of members of the Bank's Supervisory Board, including its Chair, and early termination of their powers
  • Election of the Chair of the bank's executive body, early termination of his powers;
  • etc.