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August 2016

Dr. Axel Sauer, a former self-employed consultant, conducts in 2003 seminars on risk management and regulatory compliance in lending for the employees of Eastern European commercial banks, managed by international financial institution experts (KfW, EBRD, ipc). These seminars play a vital role in providing the employees with the kinds of skills and information needed to ensure that their institutions are managing risks in a sound manner and are operating in compliance with current international regulatory standards, in particular the “Basel Committee on Banking Supervision” (BCBS) recommendations and covenants of the Basel Capital Accord ("Basel II").

Dr. Sauer joins Pro Credit Bank, Georgia in July 2004 as chief financial officer (CFO) with special responsibilities to manage risks out of foreign exchange transactions, interest rate change risk, liquidity and liability risks, by using OCT derivatives, issuing bonds, e. g. it was the bank`s first, and in Georgia second publicly offered commercial bank bond issue (IPO) listed at Tbilisi stock exchange.

Dr. Sauer did provide since July 2005 consultancy services to executive management of Pro Credit Banks, with focus on commercial banking Investment, Funding and Treasury activities. Special consultancy services were given to Pro Credit Bank, Romania in July 2005, amending the bank´s treasury front office by liquidity and market risk management tools in all operating currencies, and to launch the bank first, and in Romania fourth, public offered commercial bank bond issue (IPO) in local currency, listed at Bucharest stock exchange. Dr. Sauer did start in March 2006 with consultancy services to executive management of Pro Credit Bank, Kosovo by implementing treasury front office functions, enabling the bank to mange market risks and to provide foreign currency services to clients - by keeping the bank´s daily revaluated open currency positions (OCP) close to zero levels, and Dr. Sauer did enable the bank to operate within board approved investment guidelines on bond portfolios in EUR (up to 100 million) and in USD (up to 20 million).

Dr. Sauer based from November 2008 until September 2009 at Tirana, Albania was acting as advisor to executive management of Pro Credit Bank, Albania with tasks on treasury front office activities (Liquidity, FX and securities services), at the banks’ risk department on market and credit risks, and at corporate department on project financing issues. Apart from that did Dr. Sauer provide support to treasury front-office department of Pro Credit Bank, Kosovo, and since January 2008 short term (up to three weeks) consultancy to Pro Credit Bank, R. D. Congo, Kinshasa, on liquidity, bond portfolios management, and (FX) services.

After studying National Economy at the J. W. Goethe University in Frankfurt, and receiving his Ph.D. in 1984 under Professor Dr. Bernd Rudolph and Professor Dr. Wolfram Engels, dissertation thesis - Planning of equity stock issuance and the determination of issue prices under conditions of perfect and imperfect investor competition, he started his work career in June 1984 as trainee at BHF-Bank (Frankfurt a. M., Germany) initial public offering (IPO) department, until 1986.

From 1986 through to 1995 he was at “Credit Suisse” (SKA, Deutschland AG) managing in 1992 as head of Asset and Liability Management department, the bank’s on- and off-balance sheet exposure out of open interest, and currency positions by over the counter OTC- derivatives like - interest rate swaps, caps and floors, forward rate agreements (FRA), bonds, and interest rate and currency swaps.

From 1995 until 2001 did he work for DG Bank Deutsche Genossenschaftsbank AG (“DZ BANK AG”) as head of sales on OTC- derivatives and bonds to cooperative banks (Volks- und Raiffeisenbanken) in Germany, Italy, Austria and Spain, supporting these banks to manage their currency and interest rate risk exposures out of treasury and capital markets activities.

From 2001 to 2002 he was director and division manager at the Federal Association of German Public Sector Banks (Bundesverband Öffentlicher Banken Deutschlands) in Berlin, and in charge of capital markets, securities origination and securities trading, stock exchanges in Germany, corporate governance and banking compliance issues.

Dr. Sauer, born in 1951, brings up to the task over 25 years of high-level experience in banking and financial risk management, and more than 13 years experience how to apply, and implement, above mentioned banking and risk management activities, at commercial banks operating in emerging market environment of Africa, Asia, Middle East and Eastern Europe, and at Central Banks.

Dr. Sauer did act from December 2009 until July 2012, as the “Governor’s Advisor” at Central Bank of Kuwait (CBK), and hereby until February 2012 as the “Governor’s Advisor” to His Excellency Sheik Salem Abdul-Aziz Al Sabah.

He did comment in September 2012, on Basel Committee on Banking Supervision consultative document – “Fundamental review of the trading book” (May 2012).

Dr. Sauer is registered - since 2009 and present, at European Bank for Reconstruction and Development (EBRD, the Bank) consulting teams - “targeted crisis response”, did act in 2013 as expert under the EBRD framework "Local Currency Financing and Local Capital Markets Initiative" (e. g. to enhance Infrastructure and Instruments, and to develop Capital Markets) at Kirgizstan capital markets. He is registered under the Bank’s “Regional (TCS 29330) medium-sized loan co-financing facility (MCFF)” as advisor to EBRD’s partner banks, and as Supervisory Board Nominee at EBRD’s – “External Supervisory Board Nominees Register of Experts”.

Dr. Sauer did provide – in February 2015, lectures at Frankfurt School of Finance & Management, to the topic national and international “Banking Supervision” (On- Site and Off- Site).

And, he is acting – since June 2015 for the Centre for International Migration and Development (CIM), as integrated CIM expert and “Chief Specialist” at National Bank of Ukraine (NBU), Kiev, the Central Bank of Ukraine.