Approved by the Protocol of Board of the Central Bank of the Azerbaijan Republic of September 6, 2010 No. 24

Changes in Rules of application of standards of corporate management in banks

Make the following changes in approved by board decision of National Bank of the Azerbaijan Republic of November 3, 2004 (The protocol No. 19) and registered by the Ministry of Justice of the Azerbaijan Republic on November 16, 2004 (the certificate No. 3089):

1. exclude Item 4.6.

2. State Item 10.3 in the following edition:

"For the purpose of risk management, existing in banking activity, in bank the Credit committee for effective management of credit risks, the Management committee by assets and liabilities for liquidity risk management and market risks is created. For the purpose of ensuring effective and safe work of systems of information technologies of bank, and also regulation of other risks which the bank faces the Committee on information technologies and other committees can be created respectively. Appointment of chairmen and members of committees is included into competence of the Supervisory board."

3. exclude Item 10.4.

4. State Item 10.5 in the following edition:

"The management committee risks making independent risk management solutions is created with odd number of members with participation, at least. one board member of bank, and also leading employees of structural divisions. Powers of the Management committee risks it is regulated by the corresponding regulations of the Central bank."

5. exclude Item 10.6.

state Item 13.1 in the following edition:

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