Baku, Fineko/abc.az. The Association of Risk Professionals of Azerbaijan (ARPA) has conducted the 1st meeting of its Board of Trustees.

ARPA reports that the meeting covered three key documents of the Association: the Regulation on the Board of Trustees, the Regulation on the Board of Directors and the Policy of Membership.

“Along with that, the ARPA Board of Trustees’ first meeting also discussed programs “Certification of Internal Auditors of Banks” and “Advanced Risk Management, and gave recommendations to the Board of Directors on the issue,” it was reported.

Currently the Board of Trustees numbers 11 persons.

“It is planned to increase their quantity up to 15 members. It was also decided to hold sessions of the Board of Trustees as minimum once a week,” the Association said.

Presently, the Association’s Board of Trustees is headed by Chief of Department of the Central Bank of Azerbaijan (CBA) Rashad Orujev. The Board of Trustees also includes representatives of the International Bank of Azerbaijan (IBA), Islamic Development Bank (IDB), AGBank and International Finance Corporation.

ARPA was established in May 2009. The major direction of its activity is to improve the level of knowledge of financial institutions and companies on risk management.

The Association has already launched cooperation with the IFC, CBA and GARP.

16.12.2009 17:13