Elman Rustamov

{{Infobox officeholder

| name = Elman Rustamov
Elman Rüstəmov

| image = File:Elman Rustamov in 2019.jpg

| order =

| title = Chairman of Azerbaijan Central Bank

| term_start = 13 January 1995

| term_end = 12 April 2022

| predecessor = {{Interlanguage link|Qalib Ağayev|az|Qalib Ağayev}}

| successor = Taleh Kazimov

| president = Heydar Aliyev, Ilham Aliyev

| birth_date = {{Birth date and age|df=yes|1952|06|29}}

| birth_place = Jabrail district, Azerbaijan

| religion =

| signature = Elman Rüstəmov signature (1 manat).jpg

| signature_size = 80px

| branch =

| serviceyears =

| rank =

| battles =

| caption =

}}

Elman Rustamov ({{langx|az|Elman Rüstəmov}}) is an Azerbaijani politician. He was the chairman of Azerbaijan Central Bank from January 1995 until April 2022.{{cite web |title=Taleh Kazimov appointed new Central Bank head replacing Elman Rustamov after 27 years in office |url=https://jam-news.net/taleh-kazimov-appointed-new-central-bank-head-replacing-elman-rustamov-after-27-years-in-office/ |website=English Jamnews |date=12 April 2022}}{{Cite web|url=https://www.cbar.az/organization/staff/detail/10|title=Azərbaycan Respublikasının Mərkəzi Bankı - Dr. Elman Sirac oğlu RÜSTƏMOV}}

Biography

File:Elman Rustamov & Kirsan Ilyumzhinov.jpg, Kirsan Ilyumzhinov.]]

Rustamov was born 29 June 1952 in Jabrail district of Azerbaijan.

=Education=

In 1969, he entered Azerbaijan National Economy Institute (now Azerbaijan State Economic University), faculty of Planning of National Economy. In 1973, he graduated with honors from the University.

=Academic activity=

In 1973–1978, he completed his PhD at the Azerbaijan National Economy Institute named after D. Bunyadzade. In 1986, he successfully defended the scientific thesis at Scientific Research Institute of Economy in Moscow and obtained a diploma.

During 1990-1992 he continued scientific activity towards a Doctorate degree at the Economy Institute under the USSR State Planning Committee. In 1993, he received a degree in Doctor economic science.

=Job activity=

Rustamov started his professional life at the Scientific Research Institute of Economy under USSR State Planning Committee as an economist immediately. After six months he joined military service in Smolensk city and completed it in 1975.

In 1978–80, he worked at Baku Fine Broadcloth Union of Azerbaijan SSR Ministry of Light Industry as a head of the department of Economy. After 2 years he returned to his first workplace (Scientific Research Institute of Economy under USSR State Planning Committee) and worked there until 1990.

In 1991–1992, he continued his professional activity at the Presidential Administration of Azerbaijan as a chief adviser.

Rustamov joined the Central Bank of Azerbaijan in December 1992. In 1993–1994, he worked at the Agrarian – Industrial Union Joint Stock Bank as Deputy Chairman of the Management Board. In 1994, he was appointed to the First Deputy Chairman of the Management Board of Azerbaijan Central Bank. In 1995, he was nominated to the governorship by the Order of the Azerbaijan President - Heydar Aliyev. In 2000, 2005 and 2010,http://en.apa.az/news.php?id=119348 {{Webarchive|url=https://web.archive.org/web/20120325184323/http://en.apa.az/news.php?id=119348# |date=25 March 2012 }} Elman Rustamov has been appointed chairman of the Central Bank of Azerbaijan Republic he was reappointed the second, third and fourth time.

Since 1995 he has simultaneously been Administrator for Azerbaijan at World Bank Group, MIGA and European Bank for Reconstruction and Development.

Macroeconomic policy activity

During the 2008 financial crisis monetary policy orientation of Central Bank of Azerbaijan strictly expanded: refinancing rate was cut down from 15% up to 2%, reserve requirement ratio from 12% up to 0.5%.[http://www.nba.az/default.aspx?go=699 Chronology of main policy rate of Central Bank of Azerbaijan]{{dead link|date=September 2017 |bot=InternetArchiveBot |fix-attempted=yes }} In exchange rate policy Rustamov voted for financial stability holding a pegged regime against the US dollar.[http://en.apa.az/news.php?id=97954 Chairman of the National Bank of Azerbaijan: Manat devaluation is not expected] {{webarchive|url=https://web.archive.org/web/20090307023442/http://en.apa.az/news.php?id=97954 |date=7 March 2009 }}