•   Corporate Governance  

     

Corporate Governance

Supervisory Board

Mir Jamal Pashayev

Chairman of PASHA Bank Supervisory Board 
 

Jalal Gasımov

Member of PASHA Bank Supervisory Board

Taleh Kazimov

Member of PASHA Bank Supervisory Board
 

H. Cenk Eynehan

Member of PASHA Bank Supervisory Board


Mir Jamal Pashayev

Chairman of PASHA Bank Supervisory Board 
 

Mir Jamal Pashayev graduated from the Physics Department at Moscow State University in 1993, and went on to obtain his Master of Science in Engineering from the University of California in 1996, followed by a Master of Business Administration from American University in Washington D.C. in 1998.
He joined the Mobil Corporation as a business project consultant to the company’s Dallas and Washington offices in 1998 before arriving in Baku in 1999, where he took on the position of consultant to the Central Bank of Azerbaijan. He joined the European Bank of Reconstruction and Development (EBRD) as financial analyst in 2000, and was soon promoted to the position of banker on infrastructure projects. From 2005 to 2008, Mr. Pashayev was engaged in consulting activities for large-scale investment projects in the fields of infrastructure, telecommunications and financial services.
Mr. Pashayev has been the Managing Director at PASHA Holding since 2006. He is also Chairman of the Supervisory Board of PASHA Insurance and PASHA Bank Azerbaijan.

Jalal Gasımov

Member of PASHA Bank Supervisory Board

Jalal Gasımov completed his undergraduate degree in economics at Azerbaijan Economy University, received his graduate degree in Economic Relations, at Higher Diplomatic College of Azerbaijan and an MBA degree at Warwick Business School, UK.
Jalal Gasımov has started his banking career at İlkbank OSJC, Azerbaijan in 1999. Between years 2002-2003 he held various positions on finance at private sector companies. He worked in Azpetrol Oil Company as a Finance Director in 2003-2004 and was the Deputy Chairman of the Board of Directors of Azpetrol Holding from 2004 to 2006. He joined the Moscow Office of McKinsey & Company and served as a Consultant in 2006-2007. He held top management duties: CEO in Bank of Baku, Finance Director in CRA Group Companies, and CEO and Chairman of the Executive Board in Unibank between 2007-2015, respectively. Jalal Gasımov joined PASHA Holding as the Head of Banking Group and Deputy CEO in 2015 and also serves as the Chairman of the Supervisory Board of Kapital BANK OSJC.

Jalal Gasimov is a member of Board of Directors of PASHA Bank Turkey. He was appointed a Member of the Supervisory Board of PASHA Bank Georgia on October 26, 2015.

 

Taleh Kazimov

Member of PASHA Bank Supervisory Board
 

Mr. Taleh Kazimov has extensive professional experience in commercial and investment banking, loans and risks management. He was appointed as CEO and Chairman of PASHA Bank Executive Board on July 1, 2015.

Prior to this appointment, Mr. Kazimov served as the Chief Investment Officer of the Bank and a member of the Executive Board responsible for business development, FIs, corporate and SME banking. Mr. Kazimov joined PASHA Bank in 2007 as Risk Manager and then promoted to the position of the Bank’s Treasury Director in 2009.

Mr. Kazimov began his career in financial sector in 2004 as a Leading specialist in Treasury Department at the Bank Standard and later as the Head of accounting management and budget planning. He later has been promoted to the Deputy Director of Corporate Loans Department. In 2006 he joined Ernst and Young as an auditor and from 2007 worked as a General Director of “FinEko” Informational Analytical Agency.

Mr. Taleh Kazimov holds a bachelor degree in Automation and Computer engineering from Azerbaijan Technical University. He also pursued MBA from Azerbaijan State Oil Academy and an MBA in Finance from Georgia State University. In addition, Mr. Kazimov successfully completed the executive educational programs of London Business School in 2010 and Harvard Business School in 2012.

Mr. Kazimov is a Member of Supervisory Boards for PASHA Bank Turkey and PASHA Bank Georgia. He was appointed as member of the Supervisory Board of PASHA Bank Georgia on September 17, 2015.

H. Cenk Eynehan

Member of PASHA Bank Supervisory Board

Hikmet Cenk Eynehan earned a two-year degree in economics from Erasmus University in the Netherlands, and Bachelor degree in management from Monroe College in the United States of America and completed Executive MBA program at Koç University, Istanbul.

He started his banking career in 1994 and served in various management and business development capacities at DHB Bank (Nederlands) N.V. until 2001. He continued his professional career in non-financial sector during 2002-2004 and he joined Şekerbank T.A.Ş. and held executive positions in various departments from 2005 until 2010. He was Deputy General Manager in charge of Corporate Marketing & Sales of Ekspo Factoring A.Ş. from 2011 until 2013.

Mr. Eynehan has been named as General Manager and Board Member of PASHA Yatırım Bankası A.Ş. effective August 2, 2013. He has 23 years of experience in banking and business administration. Mr. Eynehan was appointed a Member of the Supervisory Board of PASHA Bank Georgia on September 17, 2015.

Board of Directors

Shahin Mammadov

Chairman of PASHA Bank Board of Directors, CEO

Goga Japaridze

Member of PASHA Bank Board of Directors, CCO

Chingiz Abdullayev

Member of PASHA Bank Board of Directors, CFO


Shahin Mammadov

Chairman of PASHA Bank Board of Directors, CEO

Shahin Mammadov majored in accounting at the Azerbaijan State Economic University and obtained a diploma in 2002. In 2004, he was awarded a Master’s Degree from the same university and a Ph.D. in Economy in 2010.

Mr. Mammadov held the roles of accountant and deputy chief accountant at Kochbank Azerbaijan Ltd. from 2003. He joined Deloitte & Touche in 2005 as Associate Auditor and was subsequently promoted to Audit Manager. He acquired ACCA qualification in 2014.

In 2009, Mr. Mammadov was assigned to the position of Director of the Financial Management Department at PASHA Bank head office and in 2011 he became a member of the Executive Board. In 2013, he joined the Board of Directors of PASHA Bank Georgia supervising the business development function. Since July 2014, Mr. Mammadov has been the CEO and Chairman of the Board of Directors at PASHA Bank.

 

Goga Japaridze

Member of PASHA Bank Board of Directors, CCO

George (Goga) Japaridze graduated from Tbilisi State University in 1996 with a Bachelor of Science degree in Biology. He went on to receive an MBA from Hofstra University’s Zarb Business School in 2002. In 2016, he enrolled in and in 2017 graduated from Harvard Business School’s Personal Leadership Development Executive Education Program.

Mr. Japaridze began his banking career in 2003 as an associate at Galt and Taggart Securities, the investment banking subsidiary of Bank of Georgia, before taking on the role of senior equity banker at Bank of Georgia in 2005. He held the position of principal banker at the EBRD’s private equity facility from 2006 to 2011. He then moved to the role of Head of Corporate Banking at Bank Republic Société Générale Group.

Mr. Japaridze joined PASHA Bank as CCO in January 2014. Since April 2015, he also became a member of the Board of the Directors at PASHA Bank.

Chingiz Abdullayev

Member of PASHA Bank Board of Directors, CFO

Chingiz Abdullayev obtained his bachelor’s degree in Business administration from Western University of Baku, Azerbaijan in 1999 and Master’s degree in Finance at State Economic University of Azerbaijan in 2005.

He started his career at Baku Stock Exchange as the Head of Listing Division in 2000. In 2003 he joined Assurance & Advisory Service of Deloitte and for the following 10 years worked at senior positions with KPMG Russia, Moore Stephens CIS and RSM Georgia with major focus on financial institutions, energy, trade and other industry sectors. 

Chingiz Abdullayev joined JSC PASHA Bank Georgia in 2014 as Head of Financial Management Department. He became the Member of the Board of Directors and Chief Financial Officer on January 13th, 2016.

 

Committees

Audit committee

Parvin Ahadzade

Chairman of PASHA Bank Audit Committee

Ramil Heydarov

Member of PASHA Bank Audit Committee

Jamil Mammadov

Member of PASHA Bank Audit Committee


Parvin Ahadzade

Chairman of PASHA Bank Audit Committee

Parvin Ahadzade was awarded with Bachelor Degree in Marketing in 2002 and a Master’s Degree in International Economic Relations in 2004, both from Azerbaijan State Economic University.

He started his professional carrier in 2003 as a Specialist with “Ata Bank” OJSC in Baku. In 2006 he joined Central Bank of Azerbaijan Republic as an economist and worked there until 2015. In 2014 he was promoted and appointed as the Head of On-site inspections division. In June 2015 he was appointed as senior advisor to the Director of “Pasha Holding” LLC and was elected as a member of JSC PASHA Bank’s Audit Committee. In 2017 he was appointed as the Chairman of PASHA Bank Audit Committee.

 

Ramil Heydarov

Member of PASHA Bank Audit Committee

Ramil Heydarov joined PASHA Holding in May 2015 as Internal Audit Senior.

Prior to this, Mr. Heydarov held the roles of specialist of Operations Department at Access Bank CJSC for three years and Audit Senior in Ernst & Young for four years. 

Ramil Heydarov has obtained Bachelor’s Degree from the Azerbaijan State Economic University in 2003-2007 with a major in Finance and Credit. In 2009 Mr. Heydarov was awarded a Master’s Degree in Finance and Credit from the same university.

Jamil Mammadov

Member of PASHA Bank Audit Committee

In 2008, Jamil Mammadov graduated from Azerbaijan State Economic University with a Bachelor Degree in State Regulation of Economy. In 2010, he graduated with honors from Azerbaijan State Economic University with a Master’s Degree in State Regulation of Economy.
In 2011, he earned a Master’s Degree in International Business Economics graduating with honors from City University London in the United Kingdom. From 2006-2010, Jamil served as a Leading Specialist with AG Bank OJSC in Baku. In 2011, he was promoted and appointed as the branch Deputy Director with AGBank OJSC. From 2013 - 2014, Jamil worked as an audit assistant at KPMG Azerbaijan Limited.

 

 

 

Strategy and Budget Committee

Jalal Gasımov

Chairman of Strategy and Budget Committee

Turkhan Makhmudov

Member of Strategy and Budget Committee

Hayala Mubariz gizi Naghiyeva

Member of Strategy and Budget Committee

Murad Ahmadov

Member of  Strategy and Budget Committee 

Sarkhan Aliyev

Member of Strategy and Budget Committee


Jalal Gasımov

Chairman of Strategy and Budget Committee

Jalal Gasımov completed his undergraduate degree in economics at Azerbaijan Economy University, received his graduate degree in Economic Relations, at Higher Diplomatic College of Azerbaijan and an MBA degree at Warwick Business School, UK.

Jalal Gasımov has started his banking career at İlkbank OSJC, Azerbaijan in 1999. Between years 2002-2003 he held various positions on finance at private sector companies. He worked in Azpetrol Oil Company as a Finance Director between 2003-2004 and he was the Deputy Chairman of the Board of Directors of Azpetrol Holding between 2004-2006. He joined to Moscow Office of McKinsey & Company and served as a Consultant between 2006-2007. He held top management duties; CEO in Bank of Baku, Finance Director in CRA Group Companies, CEO and Chairman of the Executive Board in Unibank between 2007-2015 respectively. Jalal Gasımov joined PASHA Holding as the Head of Banking Group and Deputy CEO in 2015 and he has been serving as the Chairman of the Supervisory Board of Kapital BANK OSJC.

He has 16 years of experience in banking and business administration.

Jalal Gasimov was appointed as Member of the Supervisory Board of PASHA Bank on October 26, 2015. He has been appointed as Chairman of Strategy and Budget Committee, Member of Risk Management Committee and Member HR and Remuneration Committee on February 08, 2016.

Turkhan Makhmudov

Member of Strategy and Budget Committee

Turkhan Makhmudov has been acting as an Independent Advisor for PASHA Bank and PASHA Private Banking since 2012. He has excellent knowledge of the corporate world with 20 years’ management experience in a range of multinationals including BBDO, British American Tobacco, Boots and BASF Pharma. He has vast first-hand experience of strategic and operating issues in Russia and the CIS. Over the last 7 years Turkhan Makhmudov has consulted over 50 private and state-owned companies on senior leadership and board level projects. He has also worked extensively on marketing and branding, leading a large number of branding and communications projects. Turkhan holds an MBA from Nottingham Business School. 

He has been appointed as Member of PASHA Bank Strategy and Budget Committee on February 08, 2016.

 

Hayala Mubariz gizi Naghiyeva

Member of Strategy and Budget Committee

Hayala Mubariz gizi Naghiyeva graduated from the Department of International Economic Relations at Azerbaijan State Economic University in 2004, as well as the Department of Economics and International Business at Pennsylvania Higher Education System University of SRU in the United States. 

Ms. Naghiyeva began her professional career as an auditor with Deloitte in Baku before taking on the role of performance analyst with BP Exploration Caspian Sea in 2006. She was then appointed head of the Financial Advisor Services Department at Deloitte in Baku in 2007. 

Ms. Naghiyeva joined PASHA Holding LLC in Baku in 2009 as Investment Manager.

Hayala Mubariz gizi Naghiyeva is currently working at the position of the Head of Credit Underwriting at PASHA Bank in Azerbaijan.She has been appointed as Member of PASHA Bank Strategy and Budget Committee and Member of Risk Management Committee on February 08, 2016.

 

Murad Ahmadov

Member of  Strategy and Budget Committee 

Murad Ahmadov graduated from the Finance and Banking at Khazar University in 2002.
 
Mr. Ahmadov began his professional career as an economist with the Central Bank of the Republic of Azerbaijan in 2002 before taking on the role of an auditor with KPMG in 2005. In 2007 he joined Ernst&Young and served at various positions from Senior Auditor to Audit Manager. Murad Ahmadov joined PASHA Holding as an Audit Manager in 2012. In 2015 he was appointed as Procurement Manager at PASHA Holding.

He has been appointed as Member of Kapital Bank Audit Committee in 2014.

He has been appointed as Member of PASHA Bank Strategy and Budget Committee on February 08, 2016.

 

Sarkhan Aliyev

Member of Strategy and Budget Committee

Sarkhan Aliyev graduated from the Economic and Administrative Sciences faculty of Gazi University Turkey in 2005, and then in 2006 received Master’s degree from Central European University Hungary. Later in 2010 he graduated from MBA program of The State Economy University of Azerbaijan. 
 
Mr. Aliyev started his career as underwriter at AXA-MBASK Insurance Company in 2007.  He worked in “Azersu” OJSC as financial specialist in 2008-2011. Starting from 2011 till 2015 Mr. Aliyev worked at PASHA Bank Azerbaijan in various positions at corporate banking division. Starting from 2015 February he was rotated to PASHA Holding LLC, were currently works as manager at Group Strategy Management Department.
 
He has been appointed as Member of the Strategy and Budget Committee of PASHA Bank on February 08, 2016.

 

 

HR and Remuneration Committee

Mir Jamal Pashayev

Chairman of PASHA Bank HR and Remuneration Committee

Ayten Abbasli

Member of HR and Remuneration Committee 

Jalal Gasımov

Member of PASHA Bank HR and Remuneration Committee


Mir Jamal Pashayev

Chairman of PASHA Bank HR and Remuneration Committee

Mir Jamal Pashayev graduated from the Physics Department at Moscow State University in 1993, and went on to obtain his Master of Science in Engineering from the University of California in 1996, followed by a Master of Business Administration from American University in Washington D.C. in 1998.
He joined the Mobil Corporation as a business project consultant to the company’s Dallas and Washington offices in 1998 before arriving in Baku in 1999, where he took on the position of consultant to the Central Bank of Azerbaijan. He joined the European Bank of Reconstruction and Development (EBRD) as financial analyst in 2000, and was soon promoted to the position of banker on infrastructure projects. From 2005 to 2008, Mr. Pashayev was engaged in consulting activities for large-scale investment projects in the fields of infrastructure, telecommunications and financial services.

Mr. Pashayev has been the Managing Director at PASHA Holding since 2006. He is Chairman of the Supervisory Boards of PASHA Bank Georgia and PASHA Insurance.
Mir Jamal Pashayev has been appointed as Chairman of HR and Remuneration Committee of PASHA Bank on February 08, 2016.

Ayten Abbasli

Member of HR and Remuneration Committee 

Mrs. Ayten Abbasli completed her undergraduate degree in arts at Azerbaijan University of Languages, received her Executive Mini MBA in HR from Falconbury, UK. She is certified in Human Resource Strategy in Transforming Organizations by London Business School and CHRM (Certified Human Resources Manager) by HR Certification Institute.

Ayten Abbasli has started her career in HR at PricewaterhouseCoopers Azerbaijan Branch in1998 and worked there as HR Manager till 2010. Ayten Abbasli joined PASHA Holding as HR Manager in 2010 and was promoted as HR & Administrative Department Director in January, 2011. Since 2015 she is Group HR & Administrative Department Director of PASHA Holding.
She has 18 years of experience in HR in financial sector.

Ayten Abbasli has been appointed as Member of the HR & Remuneration Committees of OJSC PASHA Bank, Kapital Bank, PASHA Insurance and PASHA Life Insurance in 2015.

She has been appointed as Member of HR and Remuneration Committee of JSC PASHA Bank Georgia on February 08, 2016.

 

Jalal Gasımov

Member of PASHA Bank HR and Remuneration Committee

Jalal Gasımov completed his undergraduate degree in economics at Azerbaijan Economy University, received his graduate degree in Economic Relations, at Higher Diplomatic College of Azerbaijan and an MBA degree at Warwick Business School, UK.
Jalal Gasımov has started his banking career at İlkbank OSJC, Azerbaijan in 1999. Between years 2002-2003 he held various positions on finance at private sector companies. He worked in Azpetrol Oil Company as a Finance Director between 2003-2004 and he was the Deputy Chairman of the Board of Directors of Azpetrol Holding between 2004-2006. He joined to Moscow Office of McKinsey & Company and served as a Consultant between 2006-2007. He held top management duties; CEO in Bank of Baku, Finance Director in CRA Group Companies, CEO and Chairman of the Executive Board in Unibank between 2007-2015 respectively. Jalal Gasımov joined PASHA Holding as the Head of Banking Group and Deputy CEO in 2015 and he has been serving as the Chairman of the Supervisory Board of Kapital BANK OSJC.

He has 16 years of experience in banking and business administration.

Jalal Gasimov was appointed as Member of the Supervisory Board of PASHA Bank on October 26, 2015. He has been appointed as Member of HR and Remuneration Committee, Risk Management Committee and Strategy and Budget Committee on February 08, 2016.

 

 

Risk Management Committee

Hayala Mubariz gizi Naghiyeva

Member of Risk Management Committee

Elman Eminov

Member of Risk Management Committee

Kamala Nuriyeva

Member of Risk Management Committee
 

Jalal Gasimov

Member of Risk Management Committee


Hayala Mubariz gizi Naghiyeva

Member of Risk Management Committee

Hayala Mubariz gizi Naghiyeva graduated from the Department of International Economic Relations at Azerbaijan State Economic University in 2004, as well as the Department of Economics and International Business at Pennsylvania Higher Education System University of SRU in the United States. 
Ms. Naghiyeva began her professional career as an auditor with Deloitte in Baku before taking on the role of performance analyst with BP Exploration Caspian Sea in 2006. She was then appointed head of the Financial Advisor Services Department at Deloitte in Baku in 2007. 
Ms. Naghiyeva joined PASHA Holding LLC in Baku in 2009 as Investment Manager.
Hayala Mubariz gizi Naghiyeva is currently working at the position of the Head of Credit Underwriting at PASHA Bank in Azerbaijan.
She has been appointed as Member of PASHA Bank Risk Management Committee and Member of Strategy and Budget Committee on February 08, 2016.

 

Elman Eminov

Member of Risk Management Committee

Elman Eminov completed his bachelor and master degrees in economics at Azerbaijan State Economic University. He holds PhD degree from Economic Institute of Azerbaijan Academy of Sciences, and Fulbright Postdoctoral Visiting Scholarship from George Mason University, USA.

Elman Eminov began his career in an USA-based oil company in 2004. In 2008 he joined the Central Bank of Azerbaijan, and during 2008-2013 was promoted from junior economist to senior economist. He continued his career at PASHA Bank Azerbaijan and served as Chief Economist during 2014-2015. Elman Eminov is currently working at the position of Group Chief Economist at PASHA Holding in Azerbaijan.
He has been appointed as member of Risk Management Committee of PASHA Bank on February 08, 2016.

Kamala Nuriyeva

Member of Risk Management Committee
 

Mrs. Kamala Nuriyeva graduated Banking Management at Western University with Bachelor Degree in 1998, and in 2002 earned Master degree in Finance from Azerbaijan State Economic University.
In 1996 she commenced her professional career in Postbank OJSC on the position of IT specialist. During 7 years she rose to the Head of Credit Department.
In 2003 she joined Agricultural Rural Investment Fund established under TACIS program for development of agricultural industry in regions of Azerbaijan and worked as Loan Officer responsible for attracting customers, loan origination and management.
In the same 2003 year she received job offer from Unibank OJSC for the position of Treasury control and was responsible for currency and market risk management.
During 2004 -2005 she worked in McDermott Caspian Contractors Inc. as Cost Controller on the project of fabrication and installation of Central Azeri Offshore Platforms.
In 2005 she joined Bank of Baku OJSC and worked as Deputy Chief Accountant until 2007 responsible for accounting activities and management reporting.
In 2007 she started her career in PASHA Bank as internal auditor and in 2010 headed Risk Management department.
In 2011 she moved to PASHA Holding as Group internal auditor and was appointed on position of Chairman PASHA Bank’s Audit Committee.
In 2013 she was appointed on Head of Group Risk Management in PASHA Holding and on 11 June 2013 became Member of the Supervisory board of Pasha Bank OJSC.

Mrs. Kamala Nuriyeva has been appointed as Member of Risk Management Committee of JSC PASHA Bank on February 08, 2016.

Jalal Gasimov

Member of Risk Management Committee

Jalal Gasımov completed his undergraduate degree in economics at Azerbaijan Economy University, received his graduate degree in Economic Relations, at Higher Diplomatic College of Azerbaijan and an MBA degree at Warwick Business School, UK.
Jalal Gasımov has started his banking career at İlkbank OSJC, Azerbaijan in 1999. Between years 2002-2003 he held various positions on finance at private sector companies. He worked in Azpetrol Oil Company as a Finance Director between 2003-2004 and he was the Deputy Chairman of the Board of Directors of Azpetrol Holding between 2004-2006. He joined to Moscow Office of McKinsey & Company and served as a Consultant between 2006-2007. He held top management duties; CEO in Bank of Baku, Finance Director in CRA Group Companies, CEO and Chairman of the Executive Board in Unibank between 2007-2015 respectively. Jalal Gasımov joined PASHA Holding as the Head of Banking Group and Deputy CEO in 2015 and he has been serving as the Chairman of the Supervisory Board of Kapital BANK OSJC.

He has 16 years of experience in banking and business administration.

Jalal Gasimov was appointed a Member of the Supervisory Board of PASHA Bank on October 26, 2015. He has been appointed as Member of Risk Management Committee, Chairman of Strategy and Budget Committee and Member HR and Remuneration Committee of PASHA Bank on February 08, 2016.

Corporate Governance

The Supervisory Board of JSC PASHA Bank adopted and approved the Corporate Governance Policy on March 7th, 2016. 
The policy is public and available to all stakeholders. It describes the Bank’s corporate governance structure and provides information about rights and responsibilities of the Bank’s different governing bodies.

Download the full version of the document

Code of Ethics

The Supervisory Board of JSC PASHA Bank adopted and approved the Code of Ethics on May 23rd, 2016. 
The code is public and available to all stakeholders. It is an integral part of the  Bank’s corporate governance policy and a set of ethical and moral principles described in the code represents acceptable business conduct for the Bank. 

Download the full version of the document 

Compliance Policy

The Supervisory Board of JSC PASHA Bank Georgia approved the Compliance Policy on October 9th, 2014. The policy is public and available to all stakeholders. It describes the compliance risks and principles.

Download the full version of the document

Shareholders

JSC PASHA Bank Georgia is a wholly owned subsidiary of OJSC PASHA Bank (Azerbaijan).