The Joint-stock Closed Type Company “Baku Interbank Currency Exchange” was founded on June 21, 1993. Its shares were distributed by the five biggest state banks of Azerbaijan Republic: The National Bank of Azerbaijan, The International Bank of Azerbaijan, The Industrial and Investment Bank, The Agro-industrial Bank and The Savings Bank. Now, after the unification of last three the number of the exchange shareholders includes The National bank, The International Bank and The Incorporated Universal Joint-stock Bank of Azerbaijan, and also non-bank credit organization "Аqrokredit". In the period between the shareholders meetings Exchange Board is the supreme body of BBVB management. The Exchange Board consists of shareholder’s representatives. The chairman of the Exchange Board is elected by the decision of shareholders at their general meeting, which conducted on an as needed basis and in case the Exchange Board calls for it. Exchange Board has a very important assignment of planning, coordination, organization and the control of all BBVB activities. Exchange Board accepts all key decisions relating the selection of priority directions of activity and development of BBVB jointly. Function on direction and the control of current activity of BBVB is assigned to the General Management.