Azerbaijan’s National Depository Center reshuffles leadership

Azerbaijan’s National Depository Center (NDC) has undergone a significant leadership reshuffle following a decision by its Supervisory Board on Wednesday.

Umeyra Ibrahimova, previously the Deputy Chair of the Supervisory Board and Director of the Capital Market Policy and Supervision Department at the Central Bank of Azerbaijan, has been appointed as the new Chair of the NDC Supervisory Board.

She succeeds Elchin Alizada, who has moved to the role of Chairman of the Executive Board. In a circular swap of positions, the former head of the Executive Board, Aghahuseyn Khudaverdiyev, has been appointed Deputy Chairman of the Supervisory Board.

The changes are aimed at strengthening institutional governance and supporting the dynamic development of Azerbaijan’s financial markets.