Under the law ‘On the Central Bank of Azerbaijan’, the parliament approves the composition of the Central Bank’s board. Elman Rustamov’s term of office expires in April 2015 and in this regard, President of Azerbaijan Ilham Aliyev put forward a proposal to extend his powers.
The head of state will appoint Elman Rustamov to the post of the CBA board head.
It should be noted that 63-yer-old Elman Rustamov was appointed the head of the board of CBA in January 1995 for the first time. Later, his powers on this post were extended in 2000, 2005 and 2010.
In accordance with the order of President Ilham Aliyev, Rustamov was appointed the head of the board of the Central Bank of Azerbaijan for another five years on April 6, 2010.
Doctor of Economic Sciences Elman Rustamov was awarded the Order of Shohrat in February 2012 for his merits in the development of Azerbaijan’s banking sphere.
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