Board of Directors

Farid MAMMADOV

Farid Mammadov holds a Bachelor's degree in Political Science from the Institute of Social Management and Political Science in Baku and a Master's degree in Political Science from the Academy of Public Administration under the President of the Republic of Azerbaijan. He also holds an International MBA degree from IE Business School and is a CFA charterholder.

Farid Mammadov began his banking career in 1999 as a Credit Officer at United Credit Bank CB. Between 2001 and 2010, he served at Bank of Baku OJSC in various senior positions, including Director of the Credit Department, and most recently as Acting Chief Executive Officer.

In 2012, he joined PASHA Holding as Chief Risk Officer and, concurrently, served as a Member of the Board of Directors of PASHA Bank OJSC until June 2013. From June 2013 to February 2017, he served as First Deputy Chief Executive Officer of Kapital Bank OJSC. Between 2017 and 2023, Farid Mammadov held the positions of Deputy Chief Executive Officer and Group Director at PASHA Holding. From 2023 to 2026, he served concurrently as Deputy Chief Executive Officer of PASHA Holding and Chief Executive Officer of the Ecosystem. Since February 2026, he has been serving as Chief Executive Officer of PASHA Financial Holding.

Farid Mammadov served as Deputy Chairman of the Board of Directors of PASHA Yatırım Bankası A.Ş. from 31 March 2017 to 18 March 2024. Since 26 June 2026, he has been serving as Chairman of the Board of Directors of PASHA Yatırım Bankası A.Ş.

His experience in the banking and business spans over 27 years.

Javid GULIYEV

Board Member
Javid Guliyev completed his undergraduate studies at the Azerbaijan University of Languages and his master's degree in Finance and Credit at the Azerbaijan State University of Economics.

He began his career in 1996 as a Customer Service Department Manager at the British Bank of Middle East, a subsidiary of HSBC, and served as the Head of the Financial Control Department in 1999.

Javid Guliyev joined Unibank in 2003 as a General Manager Consultant and was appointed as the Deputy Chairman of the Executive Board in 2004. He served as the Deputy Chairman of the Executive Board of Bank Standard from 2005 to 2012.

In 2012, Guliyev worked as the Executive Financial Director at the Azerbaijan branch of Capital Resources Advisors. He joined PASHA Holding as a Chief Advisor in 2014.

Guliyev started his career at PASHA Bank OJSC in 2015 as the Business Development Advisor to the Chairman of the Executive Board. On February 22, 2016, he was appointed as the Deputy Chairman of the Executive Board of PASHA Bank OJSC, on March 1, 2018, as the Deputy Chairman of the Executive Board and Commercial Director, and on April 12, 2022, as the Acting Chairman of the Executive Board. Effective from June 9, 2022, Javid Guliyev has been appointed as the CEO and Chairman of the Executive Board of PASHA Bank OJSC.
Since June 12, 2019, he has been serving as a Board Member of PASHA Yatırım Bankası A.Ş.

His experience in banking and business spans over 28 years.

Shahin MAMMADOV

Deputy Chairman of the Board of Directors
Shahin Mammadov obtained his bachelor's degree in accounting and auditing in 2002 and his master's degree in 2004 from the Azerbaijan State University of Economics. He completed his PhD in economics at the Azerbaijan National Academy of Sciences in 2010 and graduated from Harvard Business School in 2017.

Shahin Mammadov began his professional career in 2003 at Yapı Kredi Bank Azerbaijan (formerly Koçbank JSB Azerbaijan) and continued as an Audit Manager at Deloitte&Touche LLC. In 2009, he joined PASHA Bank Azerbaijan OJSC as the Director of Financial Management Department and became a member of the Executive Board in 2011. In 2013, he joined the Executive Board of PASHA Bank Georgia. In July 2014, he was appointed as the Chairman of the Executive Board and CEO of PASHA Bank Georgia.
In January 2018, Mammadov was appointed as the Director of Business Support and Acting CEO of PASHA Holding. Since March 1, 2018, Shahin Mammadov has been a Board Member of PASHA Bank Azerbaijan and since May 30, 2018, a Board Member of PASHA Bank Georgia. He is also a Board Member of PASHA Hayat and PASHA Sigorta in Azerbaijan.

Shahin Mammadov has been serving as a Member of the Board of Directors of PASHA Yatırım Bankası A.Ş. since 31 March 2015 and has been serving as Deputy Chairman of the Board of Directors since 26 June 2026.

His experience in banking and business spans over 21 years.

Kamala NURIYEVA

Board Member
Kamala Nuriyeva completed her undergraduate studies in banking at the Azerbaijan Western University in 1998 and graduated with an honor's diploma from her master's program in finance at the Azerbaijan State University of Economics in 2002. In 2023, she completed the Women's Executive Leadership Program at Wharton School.

Nuriyeva began her professional career as an IT Specialist at Postbank OJSC and was promoted to the Head of the Credit Department within seven years.

In 2003, she joined the Rural Investment Fund, established under the TACIS program to develop Azerbaijan's regional agricultural industry, as a Credit Officer. Within the same year, she became the Treasury Controller responsible for Currency and Market Risk at Unibank OJSC. Between 2004 and 2005, she worked as a Cost Control Specialist at McDermott Caspian Contractors, involved in the production and establishment of the Azeri Central Offshore Platforms. From 2005 to 2007, she served as the Acting CFO responsible for Accounting Operations and Management Reporting at Bank of Baku, OJSC.
Nuriyeva started her career at PASHA Bank in 2007 as an internal auditor and headed the Risk Department from 2011. In 2012, she began working as the Group Internal Auditor at PASHA Holding and was appointed as the Chairperson of the Audit Committee of PASHA Bank. In 2013, Kamala Nuriyeva was appointed as the Group Risk Management President at PASHA Holding. Since May 2021, she has been serving as the President responsible for Risk Management in the Family Office. She is a Board Member of PASHA Bank Georgia, PMD Group LLC, and Lu-Mun Holding LLC.

Kamala Nuriyeva has been a Board Member of PASHA Yatırım Bankası A.Ş. since November 25, 2016.

Her experience in banking and business spans over 28 years.

Nuri TUNCALI

Member of the Board of Directors

Nuri Tuncalı is a graduate of the Department of Business Administration at Boğaziçi University. He began his professional career in 1984 as an Assistant Inspector at Akbank T.A.Ş. and continued his career as an Inspector at TEB A.Ş. from 1986 onwards. Between 1988 and 1996, he served as Assistant Manager in the Credit Control Department, Gayrettepe Branch and Credit Allocation Department. From 1996 to 2001, he served successively as Manager and Director of the Credit Allocation Department. Between 2001 and 2011, he served as Executive Vice President responsible for the Credit Allocation and Financial Analysis Group, and from 2011 to 2018 as Executive Vice President responsible for SME Loans.
Nuri Tuncalı also served as a Member of the Credit Committee of TEB Faktoring A.Ş. from 2001 to 2019 and as a Member of the Board of Directors of BNP Paribas Finansal Kiralama A.Ş. from 2017 to 2019.

Nuri Tuncalı had been serving as an Independent Member of the Board of Directors of PASHA Yatırım Bankası A.Ş. since 29 March 2019. Following the expiration of his independent member status as of 29 March 2025, he has continued to serve as a Member of the Board of Directors for the remainder of his term of office.

His experience in banking and business spans over 42 years.

Ilya ARKHIPOV

Member of the Board of Directors
Ilya Arkhipov holds a Bachelor's degree in Economics and Computer Science from Moscow International University and a Master's degree in Business Economics from the G.V. Plekhanov Russian Academy of Economics. He also holds an MBA in General Management from INSEAD.

Ilya Arkhipov began his career in 1995 as a Consultant at PwC Moscow. Between 2000 and 2001, he served as Chief Operating Officer (COO) at netBridge E-Commerce in Moscow. From 2001 to 2005, he worked as a Consultant at McKinsey & Company in Moscow. Between 2005 and 2012, he served as a Member of the Board of Directors of System Capital Management (SCM) in Kyiv. From 2013 to 2016, he was the Chief Executive Officer of SCM Advisors in London. He subsequently served as a Member of the Management Board and Chairman of the Risk Committee at Alfa Bank Ukraine between 2016 and 2019. From 2019 to 2026, he was a Partner at McKinsey & Company, serving in the firm's London, Warsaw and Baku offices. Since February 2026, he has been serving as Deputy Chief Executive Officer and Strategy & Portfolio Director at PASHA Financial Holding.

Ilya Arkhipov has been serving as a Member of the Board of Directors of PASHA Yatırım Bankası A.Ş. since 23 July 2026.

His experience in banking and business spans over 31 years.

Khalid KARIM

Member of the Board of Directors

Khalid Karim completed his undergraduate and graduate studies in Azerbaijan, earning a bachelor’s degree in Public Administration from Qafqaz University and a master’s degree in Public Administration from Azerbaijan State University of Economics. He holds the CIA (Certified Internal Auditor) and CISA (Certified Information Systems Auditor) certifications.

Khalid Karim began his banking career in 2008 as a Branch Operations Specialist at Xalq Bank ASC in Azerbaijan. From 2010 to 2014, he held various positions in operations and branch management at Expressbank ASC. In 2014, he joined Kapital Bank ASC, part of PASHA Holding, where he served in the Internal Audit Department as Team Leader, Manager, and Deputy Director until 2023.

From 2023 to 2026, he served as Director of the Internal Audit Department at PASHA Yatırım Bankası A.Ş.

Khalid Karim has been serving as a Board Member of PASHA Yatırım Bankası A.Ş. since August 20, 2026.

He has more than 18 years of experience in the banking sector.

Alpaslan YURDAGÜL

Chief Executive Officer and Board Member

Mr. Alpaslan Yurdagül holds a Bachelor’s degree in Industrial Engineering from Boğaziçi University and an MBA in Finance & Marketing from the University of Illinois at Chicago. He began his banking career in 1998 at HSBC Bank A.Ş., where he held various managerial positions in Corporate Banking until 2010. Between September 2010 and May 2012, he served as a senior executive at HSBC Bank A.Ş.

From May 2012 to July 2017, he worked at Odea Bank A.Ş. first as Group Head and subsequently as Deputy CEO responsible for Financial Institutions and Investment Banking. Between July 2017 and November 2019, he served at the same bank as Deputy CEO responsible for Credit Risk (CRO).

Between November 2019 and January 2026, he served as Chief Executive Officer and Member of the Board of Directors of Rabobank A.Ş.’s subsidiary in Türkiye.

Since 30 January 2026, Mr. Alpaslan Yurdagül has been serving as Chief Executive Officer and Member of the Board of Directors at PASHA Investment Bank A.Ş.

He has 28 years of professional experience in banking and business administration.