Supervisory Board
The supreme governing body of the National Deposit Center (NDC) is the Supervisory Board. The Supervisory Board consists of five members: two representatives from Central Bank, two representatives from the members of NDC and one independent member.
The Supervisory Board is headed by its Chairman. The Supervisory Board elects a Chairman and his deputy among its members based on the recommendation of Central Bank. In the absence of the Chairman, the Deputy exercises his powers.
Currently, the Supervisory Board is comprised of the following members:
Umeyra Ibrahimova
Chairman of the Supervisory Board
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1987
Born in Baku, Azerbaijan.
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2008
Graduated with distinction from the Azerbaijan State University of Economics with a Bachelor's degree in Finance and Credit.
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2010
Obtained her Master's degree from the Faculty of Economics of the Central European University in Budapest, Hungary.
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2011
Began her professional career in the financial sector, serving as a Junior Specialist in the Treasury Department at "PASHA Bank" OJSC.
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2012–2016
Worked concurrently as a Broker and Dealer at "PASHA Capital Investment Company" CJSC.
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2013–2022
Held various professional positions at "PASHA Bank" OJSC, including Head of the Global Markets Division.
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2022
Appointed Director of the Capital Market Policy and Supervision Department at the Central Bank of the Republic of Azerbaijan.
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2023–2026
Served as the Deputy Chairman of the Supervisory Board of the National Depository Center.
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2026
By the decision of the Supervisory Board of the National Depository Center of the Republic of Azerbaijan (NDC), Umeyra Ibrahimova was appointed Chairman of the Supervisory Board of the National Depository Center.
Aghahuseyn Khudaverdiyev
Deputy Chairman of the Supervisory Board
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1976
Born in Baku, Azerbaijan.
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1999
Began his professional career as a Leading Specialist in the Securities Circulation Regulation Department of the State Committee for Securities under the President of the Republic of Azerbaijan.
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2002–2003
Served as a Senior Specialist in the Securities Circulation Regulation Department. He subsequently held the positions of Head of the Corporate Securities Circulation Regulation Division and Sector Manager.
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2004
Graduated with honors from the Academy of Public Administration under the President of the Republic of Azerbaijan, earning a degree in Public and Municipal Administration.
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2010–2016
Served as Head of the Securities Circulation Regulation Department of the State Committee for Securities of the Republic of Azerbaijan.
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2013
By Presidential Decree No. 3118 he was awarded the medal "For Distinction in Civil Service."
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2016
Mr. Khudaverdiyev was awarded the civil service rank of Counselor. By Presidential Decree No. 3118 dated 4 September 2013, he was awarded the medal "For Distinction in Civil Service."
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2023
By the decision of the Supervisory Board of the National Depository Center (NDC), he was appointed Chairman of the Executive Board of the National Depository Center.
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2026
By the decision of the Supervisory Board of the National Depository Center (NDC) of the Republic of Azerbaijan, Aghahuseyn Khudaverdiyev was appointed Deputy Chairman of the Supervisory Board of the National Depository Center. Married with two children.
Vugar Namazov
Member of the Supervisory Board
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2005
Graduated from the Azerbaijan State University of Economics (UNEC) with a Bachelor's degree in Finance and Credit.2007: Obtained his Master's degree in International Economic Relations from the Azerbaijan State University of Economics.
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2007–2020
Held various leadership positions at the Baku Stock Exchange for over 13 years, including serving as the Chairman of the Executive Board.
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2020–2021
Served as the Advisor to the Chairman of the Executive Board at "Agrarian Procurement and Supply" OJSC under the Ministry of Agriculture.
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2021
Completed the Organizational Leadership Program at the Kellogg School of Management.
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2021
Joined "Unicapital Investment Company" OJSC as the Advisor to the Director General.
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2023
Appointed Director General of "Unicapital Investment Company" OJSC.
Nadir Babazadeh
Member of the Supervisory Board
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1988
Born in Baku, Azerbaijan.
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2010
Graduated from the Special Talents Group of the Azerbaijan State University of Economics (UNEC) with a Bachelor's degree in Finance.
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2010
Began his professional career at "Azercell Telecom" LLC.
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2013–2019
Served as Head of Division in the Treasury Department at "Unibank CB" OJSC.
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2019–2020
Held a leadership position at "Unicapital Investment Company" OJSC.
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2020–2021
Served as the Advisor to the Deputy Chairman of the Management Board at ABB.
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2020
Appointed Executive Director of "ABB-Invest Investment Company" CJSC, a position he continues to hold.
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2021
Appointed Member of the Supervisory Board of the National Depository Center of the Republic of Azerbaijan (NDC).
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2024
Completed the Global Executive MBA (GXMBA) program at IE Business School. He concurrently serves as a Member of the Board of Directors of the Azerbaijan Capital Markets Association..
Nazli Mammadova
Independent Member of the Supervisory Board
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1987
Born in Zarafshan, Uzbekistan.
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2006
Earned a bachelor's degree from the Faculty of Finance (Special Talents Program) at the Azerbaijan State University of Economics.
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2011
Received a master's degree from the Azerbaijan State University of Economics.
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2010
Began her professional career as an Audit Specialist at Ernst & Young Azerbaijan.
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2010–2017
Held various positions at Ernst & Young Azerbaijan.
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2017
Appointed Director of the Financial Management Department at the International Bank of Azerbaijan.
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2019-Present
Has served as Chief Financial Officer (CFO) at Moonwake Investment LLC.
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2023
Appointed Independent Member of the Supervisory Board of the National Depository Center (NDC). Married with 3 children.