Azerbaijani parliament approved Elman Rustamov as CBAR's governor

Baku. 1 April. REPORT.AZ/ Conclusion on the nomination of Elman Rustamov to the post of member of the Board of the Central Bank of the Central Bank of Azerbaijan Republic (CBAR) was taken after discussions at the meeting of the Parliamentary Committee on Economic Policy today.

Report informs, participating in the meeting, the Chairman of the CBAR E.Rustamov thanked the President for submitting his candidacy to the parliament, and the parliament, for approving his nomination. He informed about their activities and said that during the period of his activity banking legislation amended for three times to bring it into conformity with the laws recommended by the European Union.

E.Rustamov said, from the beginning of his activity foreign exchange reserves amounted to 10 million dollars and per capita made 1 USD, now per capita is 1 million dollars from the reserves of the Central Bank, and 5 million dollars, from the general reserves of the state.

CBAR governor stressed, Azerbaijani banking system still has some problems, but the main goal is the creation of a modern banking system.

In addition, at the meeting of the Parliamentary Committee was discussed the candidacy of Khagani Abdullayev to the post of member of the Board of the CBAR.