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The Azerbaijani government has restructured the governance of two major state-owned banks, consolidating oversight of the International Bank of Azerbaijan (ABB) and Azer-Turk Bank under a unified supervisory board, SİA reports.
Previously, ABB was overseen by a five-member supervisory board, while Azer-Turk Bank operated under a three-member board. Under the new framework, both institutions will now report to a single supervisory body tasked with providing strategic direction and regulatory compliance.
The move follows a series of presidential decrees signed by President Ilham Aliyev amending longstanding regulations governing the management of state-owned financial institutions. Among the revised laws are the 2009 decrees on the transfer of ABB to the Azerbaijan Investment Holding, as well as regulatory frameworks outlining state participation in banks and non-bank credit institutions.
The restructuring is part of Azerbaijan’s broader effort to streamline the oversight of public assets, improve corporate governance, and align the country’s financial sector with international best practices.
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