SOCAR partners with British accounting institute to elevate corporate finance skills PHOTO

The State Oil Company of the Azerbaijan Republic (SOCAR) has entered into a strategic partnership with the UK-based Chartered Institute of Management Accountants (CIMA) to jointly develop and deliver advanced training and certification programs in finance and management.

The agreement was formalized through the signing of a Memorandum of Understanding (MoU) at CIMA’s headquarters in London, following a high-level meeting between SOCAR Vice President Zaur Gurbanov and CIMA Chief Executive Andrew Harding, Caliber.Az reports, citing SOCAR.

According to the company, the MoU aims to "enhance knowledge and skills in finance and management, promote best practices in corporate governance and accounting aligned with international standards, and further strengthen SOCAR’s financial operations."

As part of the agreement, SOCAR and CIMA will collaborate on the design and implementation of joint training programs, certification initiatives, and professional development activities, with a strong emphasis on the exchange of international expertise.

CIMA, a globally recognized authority in management accounting, was founded in the United Kingdom in 1919 and currently operates in over 170 countries. The organization is renowned for its rigorous education and certification services tailored for senior financial professionals. CIMA is also the co-creator of the prestigious Chartered Global Management Accountant (CGMA) certification, developed in partnership with the American Institute of Certified Public Accountants (AICPA).

By Vafa Guliyeva