Jahangir Hajiyev
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- Ministry of Foreign Economic Relations of Azerbaijan, 1993-1995
- Chairman of the International Bank of Azerbaijan, 1995-2015
Jahangir Hajiyev | |
|---|---|
| Born | 26 October 1961 |
| Education | |
| Occupations | Civil Servant
|
| Spouse | Zamira Hajiyeva |
Jahangir Fevzi oglu Hajiyev (Azerbaijani: Cahangir Fevzi oğlu Hacıyev [dʒɑhɑɲˈɟiɾ fevˈzi oɣˈlu hɑˈdʒɯjef]; born 26 October 1961) is an Azerbaijani former banker and convicted fraudster.
He was the chairman of the International Bank of Azerbaijan from 2001 until he resigned in March 2015 citing health concerns. Under his stewardship, the bank had grown to become one of the prominent financial institutions in the Caucasus. The bank also played a key role in the Azerbaijani Laundromat scandal.[1]
On 14 October 2016, the Baku Court for Grave Crimes sentenced Hajiyev to 15 years on charges of fraud, embezzlement, and misappropriation of public funds[2]
Hajiyev attended Azerbaijan State University and graduated in 1986.[2] In 1993, he earned an MBA at the University of Texas at Austin, and was awarded a Ph.D. in International Economics from the Institute of Economics, Russian Academy of Sciences in 2005.[3]
Career
Hajiyev worked in the Ministry of Foreign Economic Relations of Azerbaijan from 1993 to 1995.
He joined the International Bank of Azerbaijan in 1995. In an interview with the Azerbaijan Press Agency (APA) Hajiyev noted that the optimal number of banks in Azerbaijan must be 20 and said "I['ve] always supported market regulation. The banks that want to increase authorized capital will do that, because this is important for banks which need high positions".[4]
Under Hajiyev's stewardship, IBA grew at an unprecedented speed, especially in the Caucasus area of Central Asia. IBA became a founder of the Baku Interbank Currency Exchange, Baku Stock Exchange, AzeriCard processing center, International Insurance Company, the Joint Leasing Company, and was the first bank to have established its presence outside the country, in Moscow and Georgia. The bank also opened representation offices in London, Frankfurt, Luxemburg, New York, and Dubai.[5] These successes led to CISTRAN Finance declaring IBA one of the 1,000 most stable banks in the world in 2013.