OREANDA-NEWS. December 03, 2013. The Central Bank of the Republic of Azerbaijan has commenced the implementation of the Improvement of the Regulatory Operational Risk Management Framework in Banks project jointly with the World Bank in harmony with the 2011 – 2014 strategic banking supervision targets.

The key goal of the project is to enhance the regulatory framework on operational risk management in banks.

In line with the project plan, the WB experts held an operational risk management seminar in the CBA for bank inspectors and other related structural units. The participants and the expert interactively discussed the risks regulation frame in international regulatory standards, their introduction in the Azerbaijani banking system, and other issues. Discussion findings and obtained data will be provided for, when setting regulatory requirements.

To note, country banks will be provided with the operational risk management seminar in future.