Elman Rustamov facts for kids
Quick facts for kids
Elman Rustamov
Elman Rüstəmov |
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| Chairman of Azerbaijan Central Bank | |
| In office 13 January 1995 – 12 April 2022 |
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| President | Heydar Aliyev, Ilham Aliyev |
| Preceded by | Qalib Ağayev |
| Succeeded by | Taleh Kazimov |
| Personal details | |
| Born | 29 June 1952 Jabrail district, Azerbaijan |
| Signature | .jpg){kind=small} |
Elman Rustamov is a well-known politician from Azerbaijan. He was in charge of the Central Bank of Azerbaijan for a long time. He served as its chairman from January 1995 until April 2022.
Contents
About Elman Rustamov
Elman Rustamov was born on June 29, 1952. His birthplace was the Jabrail district in Azerbaijan.
His Education Journey
In 1969, he started studying at the Azerbaijan National Economy Institute. This school is now known as the Azerbaijan State Economic University. He focused on planning for the national economy. In 1973, he finished his studies with excellent grades.
His Academic Work
After graduating, Elman Rustamov continued his studies. From 1973 to 1978, he worked on his PhD at the Azerbaijan National Economy Institute. Later, in 1986, he successfully defended his scientific paper in Moscow. This earned him a special diploma.
He continued his research from 1990 to 1992. He worked towards a higher degree at the Economy Institute. In 1993, he earned a degree as a Doctor of economic science.
His Career Path
Elman Rustamov began his career as an economist. He worked at the Scientific Research Institute of Economy. After six months, he joined the military service. He completed his service in Smolensk city in 1975.
From 1978 to 1980, he worked at a textile company in Baku. He was the head of the economy department there. After two years, he returned to his first workplace. He stayed at the Scientific Research Institute of Economy until 1990.
In 1991 and 1992, he worked for the Presidential Administration of Azerbaijan. He served as a chief adviser.
Rustamov joined the Central Bank of Azerbaijan in December 1992. From 1993 to 1994, he was the Deputy Chairman of a bank called Agrarian – Industrial Union Joint Stock Bank. In 1994, he became the First Deputy Chairman of the Azerbaijan Central Bank.
In 1995, the President of Azerbaijan, Heydar Aliyev, chose him to be the governor. He was reappointed to this role several times. This happened in 2000, 2005, and 2010.
Since 1995, he also represented Azerbaijan in important international groups. These include the World Bank Group, MIGA, and the European Bank for Reconstruction and Development.
His Work on the Economy
During the global financial crisis in 2008, the Central Bank of Azerbaijan made some big changes. They lowered the main interest rate from 15% to 2%. This made it cheaper for banks to borrow money. They also reduced the amount of money banks had to keep in reserve.
Elman Rustamov supported keeping the value of Azerbaijan's money, the Azerbaijani manat, stable. He wanted it to stay at a fixed rate against the US dollar. This helped keep the country's finances steady.
See also
In Spanish: Elman Rustamov para niños
- Azerbaijani manat
- Banking in Azerbaijan
- Economy of Azerbaijan
