SOCAR, CIMA ink Memorandum of Understanding

The State Oil Company of Azerbaijan Republic (SOCAR) and the Chartered Institute of Management Accountants (CIMA) have signed a Memorandum of Understanding to enhance cooperation, Report inform, citing SOCAR.

The memorandum was signed at CIMA’s headquarters in London by SOCAR Vice President Zaur Gurbanov and CIMA Executive Director Andrew Harding.

The document aims to develop knowledge and skills in finance and management, promote corporate governance and accounting practices in accordance with international standards, as well as further strengthen SOCAR's financial functions.

Under the initiative, both parties plan to organize joint training programs, launch certification initiatives, and facilitate professional exchanges in relevant fields.

Founded in 1919 in the United Kingdom, CIMA is one of the world’s leading professional bodies in management accounting. Operating in over 170 countries, it provides high-level training and certification services for financial executives and managers. CIMA also co-founded the globally recognized Chartered Global Management Accountant (CGMA) designation in partnership with the American Institute of Certified Public Accountants (AICPA).