The competences of the Supervisory Board include the following:
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Approval of the Internal regulation of the Bank, implementation of additions and changes to the these regulations;
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Determination of the general, financial, accounting, administrative and human resources policies of the Bank;
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Identification of priority businesses of the Bank, its development strategy and approval of the business plan of the Bank;
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Defining the organizational structure of the Bank;
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Establishment and liquidation of branches, offices and representative offices, approval of the Regulations of branches and representative offices;
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Make decision to hold the next, if necessary, extraordinary audit inspection and involve an external auditor for this purpose;
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Approval of the budget of the Bank;
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Control over the management and operations of the Bank, as well as the right to get from the Executive Board reports about activities of the Bank;
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Make recommendations to the General Meeting of Shareholders, the Audit Committee and the Executive Board;
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Convening the General Meeting of Shareholders by sending notifications and approval of the agenda, except for meetings convened at the request of shareholders, the Audit Committee or the Executive Board;
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Warning the General Meeting of Shareholders, the Audit Committee and the Executive Board when detecting violations of the current legislation and notifying the Central Bank about the fact of violation of banking legislation;
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Discharge members of the Executive Board in accordance with current banking legislation and until decision of the General Meeting of Shareholders temporary replace them by persons, who meet requirements of Article 10 of the “Banking Law”;
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Manage and represent the Bank in the extraordinary General Meeting of Shareholders when the Supervisory Board detects conflict of interests arose between the Bank and Chairman of the Executive Board or members of the Executive Board;
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Approval of necessary rules and internal regulations for safe and prudential management of the Bank in cases prescribed in the regulations of the Central Bank;
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Establish internal committees and approve their regulations;
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Make a decision on creation of provisions of the Bank capital;
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Approval of interbank policy;
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Adoption of the rules and regulations to conclude agreements for amount not exceeding 50% of the authorized capital of the Bank;
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Make decision to apply to the Audit Committee for a comprehensive or fragmentary audit inspection of a particular area of the Bank’s activity;
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Introduction and adoption of measures according to results of internal and external audit, as well as audits of the Central Bank of Azerbaijan;
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Make decision within the framework of authorities about the Bank's activity;
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Implementation of other powers stipulated by the banking legislation of the Republic of Azerbaijan.