OREANDA-NEWS. May 11, 2009. The Third Viennese Banking Forum of the CIS countries and Eastern Europe, and the 20th conference of BACEE (Banking Association of Central and Eastern Europe), on the country and banking risks, took place in Vienna. The events were organized by BACEE, the International Banking Council, CIS Financial and Banking Council, and the Association of Russian Banks, reported the press-centre of IBA.

About 200 representatives of the management of financial institutions and organizations from more than 20 countries of CIS, Central and Eastern Europe, including Great Britain, Austria, Italy, France, Germany, Bosnia-Herzegovina, Serbia, Kazakhstan, Ukraine, Azerbaijan, and etc., exchanged their opinion and experience in management in the context of global financial crisis and considering the national characteristic of banking system and external international challenges and risks.

Within the framework of these events, the solemn prize presentation ceremony of the first international banking award of "Platinum Key", founded in 2008 at the initiative of chief executives of banking associations of some European states and the CIS countries, took place.

This award is a symbol of higher professional recognition, and is intended for the chief executives of financial and banking institutions, as well as the regulatory financial structures in the countries of CIS, Central, and Eastern Europe. The "Platinum Key" is awarded to the individuals and organizations, which have achieved the high results in the sphere of banking business, banking technologies, and creation of favorable conditions for the development of banks and national banking systems.

The main objective for establishment of this award has been the provision of incentives for achievement of high results in financial and banking activity, the advancement of perspective financial and investment programs and projects, as well as the promotion of new innovative ideas in the countries of CIS, Central, and Eastern Europe.

Five representatives of the banking business from the CIS countries have been nominated for the "Platinum Key" award. The specially created council comprised of the heads of banking associations of European states and the CIS countries performed an expert assessment of nominees by the way of secret ballot.

The basic criteria used in selection of prizewinners were the innovativeness of nominees' activity, their particular achievements or special personal qualities and professional qualification, as well as the significance of personal contribution to the development of the company, the branch, the country, and its integration into the international community. Moreover, in the light of the developing conditions in economy, when selecting the prize-winners it has been decided to take into consideration not only their contribution to the development of national banking system, but also the successes in undertaken anti-recessionary measures.

In accordance with the assessment performed by the Council of Experts, Jahangir Hajiyev, the Chairman of the Board of the "International Bank of Azerbaijan", who has made a considerable contribution to the development of national banking system has become the prize-winner of the first international banking award.

In his speech the prizewinner has noted that this award has been given not only to him, but also to all employees of the "International Bank of Azerbaijan", whose professionalism makes it possible to succeed in achieving the high results of Bank's performance. The basis for these successes, is undoubtedly, the political and economic stability in Azerbaijan.

It is also noteworthy that today IBA has the highest possible in Azerbaijan ratings received from the international rating agencies of "Fitch" (BB+) and "Moody’s" (Baa2), and that in April this year, the Bank has been twice awarded a prize of the "Best Bank in Azerbaijan" in the nomination for the "Best Banks of World's Emerging Markets" from the "Global Finance" journal (New York), and the "Best Local Bank" in the nomination for the "Best Bank in CIS, Central and Eastern Europe" from "emeafinance" journal (London).

Besides that, in February this year, the successful performance of IBA has been highly appreciated by the Board of Directors of the "European Economic Chamber of Trade, Commerce and Industry" (EEIG), and the "International Bank of Azerbaijan" has been ranked as the most stable bank in Europe in the time of crisis. In recognition of his merits, Jahangir Hajiyev, the Bank's Chairman of the Board, has been elected the senator of this organization.