House of Representatives to hold official session next Monday with attendance of Hammad, Central Bank Governor, Deputy Governor, and Head of Oil Corporation.

The House of Representatives is the lower chamber of the United States Congress, established by the Constitution in 1789. It is composed of representatives elected from congressional districts, with representation based on state population, and holds primary responsibility for initiating revenue bills and impeaching federal officials.

The Central Bank is a nation’s primary monetary authority, responsible for managing currency, controlling inflation, and ensuring financial stability. Historically, such institutions, like Sweden’s Riksbank founded in 1668, evolved to regulate banking systems and act as a lender of last resort during economic crises. Their modern roles often include setting interest rates and supervising commercial banks.

The Oil Corporation is a major state-owned energy company in Azerbaijan, established in 1992 following the country’s independence. It plays a central role in managing the nation’s hydrocarbon resources, with its history deeply tied to the development of the Baku oil fields, which have been commercially significant since the 19th century.