CBA initiates draft of corporate strategic plan
By Aynur Jafarova
The Central Bank of Azerbaijan (CBA) has initiated the draft of a new corporate strategic plan.
This is the fifth strategic plan ensuring continuation of a long-term practice of the bank's strategic management, CBA said on September 11.
The new corporate plan is being developed on the basis of strategic analysis and planning methodologies.
The first phase of the development of the new strategic plan, which directly involves the CBA management and employees of all structural divisions, includes a step of strategic analysis, covering all functions and business processes at the CBA.
The development of the new strategic plan will be completed by late this year. Aside from that the progress in implementation of the current strategic plan will be assessed.
The implementation of CBA's current strategic plan, covering 2011-2014, is successfully coming to an end.
The main strategic priorities of this plan were to maintain macroeconomic stability, financial stability of the banking system, aligning the institutional management with current practice, the development of human capital and boosting support for economic development.
CBA prepared the first strategic plan in 2001.