OREANDA-NEWS. July 25, 2011. The Central Bank adopted the Strategic Plan for the years of 2011 through 2014. The Strategic Plan presentation ceremony was attended by Elman Rustamov, Governor of the Central Bank, reported the press-centre of CBA.

The speakers mentioned that the strategic planning was a key player in the success the Bank achieved, in development of the Bank performance and its institutional capacity. The Bank hosts modern management system and traditions, with relevant business processes on all functional activities, creative and intellectual business environment, and professional staff.

Recent high economic growth dynamics, rapid jump in the financial system, changing and thickening global economic environment have generated new challenges. To effectively respond to these challenges the Bank has set new strategic priorities on a number of directions – maintenance of macroeconomic stability, financial stability in the banking sector, solid modernization of the functions that serve for the primary mandate, adjustment of the institutional management to best practices, development of the human capital, and increase in support for economic growth.

The Strategic Plan sets nine strategic targets for 2011-2014 that will enable the Central Bank of the Republic of Azerbaijan to become a crucial public institution supporting macroeconomic stability and ongoing economic growth in the country.