He had graduated from Azerbaijan National Academy of Sciences in 1974 and from Western University in 1994 with a degree in Management.
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Allahverdiyev was born to a family of an oil worker in Baku.
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From 1983 until 1988, Allahverdiyev served as the head of executive power of Narimanov district of Baku, and from 1988 to 1993, as the director of operations of International Bank of Azerbaijan.
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He was considered a close long term ally of former President Heydar Aliyev.
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