IFC presents instructions for assessing corporate governance for banks in Azerbaijan

by Trend, November 26th, 2010.

The International Finance Corporation (IFC) under the Azerbaijan Corporate Governance Project (ACGP) presented on Friday rules to assess the corporate governance for banks.

ACGP Head Caroline Bright said this instruction will reduce the risks of banks when issuing loans. “The instruction is based on the IFC methodology of Corporate Governance and agreed to the Azerbaijani legislation,” Bright said.

IFC representative Eldar Adilzade said the experience of corporate governance is richer in the banking sector and one of the purposes of this instruction is to transfer this experience to the non-banking sector.

“The instruction offers banks tools to reduce risks by assessing the situation with corporate governance in companies that are customers of banks. Usually, banks when issuing loans pay attention to revenues, expenses and other financial performance of companies. The purpose of this instruction is to show that the situation with corporate governance also affect the risks,” Adilzade said.

IFC offers a few alternatives to assess the situation with corporate governance in companies. (continue reading… )

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