Samir Karimov: Risk management - integral part of business

Financial institutions need to develop an early warning system for effective risk management, said Samir Karimov, a representative of the American Chamber of Commerce in Azerbaijan (AmCham), Report informs.

He stated that key risk indicators in any activity are directly linked to the long-term sustainability and performance of organizations.

"Risk management is not just a control mechanism, but an integral part of business. Every financial and non-financial organization must manage risks to achieve its goals. It is important not to react to a risk after it has occurred, but to understand its nature and assess its potential consequences in advance. This is why developing an early warning system is crucial," he emphasized.