3 June 2026, Baku: The Central Bank's Management Board has adopted the "Guidelines for the Organization of the Process of Issuing Professional Certificates in the Field of Finance and Conducting Exams."

These Guidelines were prepared in accordance with Article 49 of the Law "On the Central Bank of the Republic of Azerbaijan" and the Central Bank's "Policy Concept on Risk-Based Supervision." It establishes regulations for conducting relevant examinations to assess the professionalism of financial institution employees and ensure their knowledge and skills align with internal control and risk management systems. It also outlines the procedures for regularly including certified managers in continuous professional development activities.

According to the new framework, the professional certification process will be implemented as part of the "Policy Concept for Risk-Based Supervision." The certification will consist of exam modules tailored to job groups. Initially, the certification will involve employees performing the risk management function of the second line of defense. The certification framework provides exemptions from exam modules for individuals holding relevant international certificates. The first exams are planned to begin by the end of this year. Participation in the exams is free of charge, and the resulting certificates are intended to be valid indefinitely.

This initiative aims to establish uniform professional standards in the financial sector, improve the quality of human resources, mitigate risks associated with human error, and bolster financial stability.

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