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Authorities of the Executive Board

1. The Executive Board provides guidance on the Bank's daily activity under the Bank’s Charter and the current Regulations. The Board may consider and make decisions on all matters related to the Bank’s activity without affecting the power of the General Meeting of Shareholders, the Supervisory Board and the Chairman of the Board.

2. The Board has the following powers:

2.1. Make decision on the current activity of the Bank;

2.2. Make initial selection of candidates for vacancies in the structural divisions of the Bank;

2.3. Make decision on the revaluation of movable and real assets of the Bank;

2.4. Participate in the development of the Bank’s strategy;

2.5. Determine principles of use of property transferred to the ownership of the Bank for the purpose of loans and guarantees repayment;

2.6. Make decision on loans issuing under the powers granted to the Board;

2.7. Determine within granted power and approve internal procedures of the Bank (except duties described in the Regulations of the Supervisory Board);

3. The responsibilities of the Board include:

3.1. Ensure implementation of the strategic plan;

3.2. Meet the concern of shareholders and depositors and ensure necessary level of the Bank's liquidity;

3.3. Ensure integrity and profitability of the capital;

3.4. Ensure continuity of banking operations and all departments and branches of the Bank;

3.5. Control activity of all departments of the Bank (including branches);

3.6. Implementation of requirements of regulatory acts of the Central Bank of Azerbaijan, the General Meeting of Shareholders, the Supervisory Board;

3.7. Control over preparation of materials and documents for consideration at the General Meeting of Shareholders and the Supervisory Board;

3.8. Control over preparation of reports on the Bank’s activity for the General Meeting of Shareholders and the Supervisory Board;

3.9. Make decision on all current issues of the Bank's activities;

3.10. Comply with recommendations of the Basel Committee and the legal framework of AR in the corporate governance.


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