Azerbaijani President Ilham Aliyev signed an order on State's participation in the management of banking and non-banking credit organizations, in the authorized capitals of which there are shares owned by the State, AzerTAj state news agency reported.
Upon the order, the right to attend the meetings of the board of banks and non-bank organizations, in the authorized capitals of which there are shares owned by the State, was given the right to Ministry of Finance and State Property Committee.
At the proposal of the Ministry of Finance, State Property Committee can confirm the charter of the credit organization and determine the amount of authorized capital.
Ministry of Finance is in charge of taking appropriate measures in relation to the effective management of banks and non-banking organizations, in the authorized capitals of which there are shares owned by the State, and annually reporting to the President of the Republic of Azerbaijan.