On April 3, PASHA Bank, one of Azerbaijan's largest bank, and PwC Azerbaijan held a joint business forum, "Corporate Governance: Transparency. Efficiency. Accountability" in Baku. Almost 80 representatives of the public and private sectors, as well as international financial institutions, attended the event.

The main objective of the forum was to give attendees a clearer understanding of corporate governance and to stress the importance of adhering to transparent business practices.

Speakers at the event included Nick Page, Partner and Member of the CEE Management Board of PwC, Jean Pierre Garet, PwC's global network internal audit Senior Adviser and Shirin Aliyeva, Director of the Legal and Organization Department of PASHA Bank. They discussed specific issues associated with improving corporate governance in different areas of Azerbaijan's economy, and gave examples of international best practice.

Movlan Pashayev, Managing Partner of PwC Azerbaijan, commented: "We intend to continue to help developing companies to implement best practice corporate governance systems. PwC has vast experience in this field, so is well positioned to help these companies and the development of the economy as a whole."

Taleh Kazimov, Member of the Executive Board and Chief Investment Officer (CIO) of PASHA Bank, also commented: "Adhering to best practice corporate governance standards guarantees the stable and sustainable development of business in Azerbaijan. As one of Azerbaijan's largest financial institutions offering services to corporate clients, and with the foreign experience of our specialists, PASHA Bank is best-placed to help companies to implement transparent corporate governance practices. We have already successfully implemented a number of projects focused on raising corporate governance standards in Azerbaijan and we will continue to expand these initiatives."