Regulatory Alerts2026-06-03
Professional certification framework for the financial sector approved
The Central Bank of Azerbaijan has approved the "Guidelines on the Organization of the Professional Certification Process in the Financial Sector and the Administration of Examinations" to establish uniform professional standards and strengthen financial stability. The framework mandates that financial institution employees, starting with second-line-of-defense risk management staff, complete role-specific examination modules to verify their alignment with internal control and risk management systems. Certified personnel will be required to participate in continuous professional development, while exemptions are granted for those holding relevant international certifications, with free, indefinite certificates issued starting by the end of 2026.
Press Releases A - A + Professional certification framework for the financial sector approved by the Central Bank June 3, 2026, Baku: The Board of Directors of the Central Bank has approved the "Guidelines on the Organization of the Professional Certification Process in the Financial Sector and the Administration of Examinations". The Guidelines were prepared in accordance with Article 49 of the Law of the Republic of Azerbaijan "On the Central Bank of the Republic of Azerbaijan" and the Central Bank's "Policy Concept on Risk-Based Supervision". The document establishes the procedures for organizing and administering relevant examinations to assess the professional level of employees working in financial institutions, as well as to ensure that their knowledge and skills align with internal control and effective risk management systems. The document also outlines procedures for the regular engagement of certified management personnel in continuous professional development activities. Under the new framework, the professional certification process will be implemented as an integral part of the "Policy Concept on Risk-Based Supervision". Certification will consist of examination modules depending on the job group. In the initial phase, employees performing risk management functions related to the second line of defense will be included in the certification. The certification framework provides for exemptions from examination modules for individuals holding relevant international certifications. The first examinations are planned to begin by the end of the current year. Participation in the examination is free of charge, and the issued certificates are intended to be valid indefinitely. This initiative serves to establish uniform professional standards in the financial sector, improve the quality of human resources, reduce risks associated with human factors, and generally strengthen financial stability. Link to review the Guidelines: https://uploads.cbar.az/assets/0b7630782dd7a371a9cf4908b.pdf 1 247.36 KB 03.06.2026