More than a month has passed since the amendments to the Law ‘On the Central Bank’. According to the amendments approved by President Ilham Aliyev on July 31, the number of board members of the Central Bank of Azerbaijan (CBA) has increased from 7 to 9. However, currently 3 people are represented on the board, including the chairman of the organization Taleh Kazimov, his first deputy Rashad Orujev and deputy Aliyar Mammadyarov, which is 3 times less than necessary. In other words, no board composition is expanded, so decisions in the CBA are adopted by the management in a limited composition. This allows us to conclude that the solutions are not legitimate.
Source: Turan News Agency