Bank Employees Can Become Members of the Chamber of Appraisers - PROPOSAL from AQC Chairman

Recently, the next broad meeting of the Cooperation Council with Entrepreneurs under the Board of the Central Bank was held with the aim of further strengthening cooperation between the financial-banking sector and entrepreneurs and expanding business entities' access to financial services.

The event was attended by members of the Council, senior officials of banks and financial institutions, as well as heads of associations representing various fields.

Taleh Kazimov, Chairman of the Central Bank, who chairs the Council, emphasized the importance of ensuring the continuity of dialogue between the parties, strengthening mutual trust, and expanding joint activities for the implementation of concrete initiatives. He expressed his confidence that the Council will continue to play an effective platform role between the financial-banking sector and the business community, while also making significant contributions to the sustainable development of the entrepreneurial environment.
At the event, Vugar Oruj, a member of the Council and Chairman of the Board of the Azerbaijan Society of Appraisers (AQC), spoke about the current situation and problems in the appraisal sector.

Starting his speech by expressing gratitude to the Chairman of the Board of the Central Bank for the decision regarding the participation of the Azerbaijan Banks Association and the Insurers Association in the preparation of National Appraisal Standards, the AQC chairman evaluated this support as an important step taken for the development of the appraisal sector. He noted that the Central Bank's contribution to organizing activities in this direction in a short period will create broad opportunities for appraisers.
Touching upon the existing problems, Vugar Oruj stated that, based on the new law "On Appraisal Activity," dozens of bank employees who successfully passed the exams of the State Examination Center (DIM) are still not admitted to membership in the Chamber of Appraisers. The AQC chairman proposed transitioning to the Turkish model (TDUB) to eliminate this obstacle.

"In Turkey, specialists working in banks become members of the association with the status of 'appraisal expert' and are responsible for verifying opinions. The application of this practice in Azerbaijan would also create conditions for achieving effective results."

The AQC chairman stated that the Bank Experts Council, currently represented by 16 commercial banks, successfully continues its activities under the AQC. He considered it appropriate for the Azerbaijan Banks Association to also be represented in the Bank Experts Council to further strengthen inter-sectoral coordination.

Finally, Vugar Oruj requested support from Taleh Kazimov, Chairman of the Central Bank, and relevant state institutions for AQC's purposeful activities aimed at preventing monopolistic tendencies and ensuring transparency in the appraisal sector.