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Central Bank of Azerbaijan introduces requirements for local branches of banks

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Date: 29 December 2015 18:12

Baku, Azerbaijan, Dec. 29

Trend:

The amount of annual bonus payments to employees and managers of Azerbaijani branches of foreign banks during the year mustn’t exceed the total amount of their annual salary and bonuses more than twice, according to the requirements of bonus payments in the local branches of foreign banks.

These requirements have been added to “Standards of corporate governance in banks” in accordance with the decision of the Central Bank of Azerbaijan dated December 21.

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