Azerbaijan should create private pension funds, which will, among other things, increase the need for actuaries, the head of the State Insurance Supervision Service under the Ministry of Finance Namig Khalilov told reporters at the event for the development of this segment of the financial market.
According to him, this segment of the service is in demand, the demand for actuaries is growing and they are needed not only by insurers, but also in the fields of pensions, banking and investment. By the way, yesterday in accordance with the law "On insurance activity" 27 actuaries who have successfully passed a certification exam received their certificates. The complexity of the profession is proved by the fact that only 10% of those who took part in courses at the Azerbaijan Insurers Association (AIA) were certified.
According to the head of AIA Orkhan Bayramov, from May 2015 such courses will be conducted not only for employees of insurance companies, but also for employees of the State Social Protection Fund. --17D-
Economics
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The Cabinet of Ministers of Azerbaijan has approved a new Unified Tariff Schedule to determine the monthly salaries of public sector employees financed through the state budget. This decision, outlined in Decree No. 540, comes into effect on December 26, 2024, and is aimed at standardizing wages in the public sector.
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On December 27, Azerbaijani President Ilham Aliyev has signed a decree to dissolve the Azerbaijan Industrial Corporation (ASK) and transfer its key assets to the Azerbaijan Investment Holding (AIH), marking a significant step in streamlining the management of state-owned enterprises. The decision, effective immediately, aims to address regulatory issues and enhance operational efficiency.
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President Ilham Aliyev signed a decree on 27 Desember to implement the law on the 2025 State Social Protection Fund budget, setting forth measures to ensure the effective execution of the fund’s financial framework.
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Azerbaijani President Ilham Aliyev has issued a decree to implement amendments to the country’s Tax Code, approved by Parliament on December 16, 2024, under law number 98-VIIQD. The decree, published on Friday, is aimed at optimizing tax administration and strengthening the legal framework outlined in the revised legislation.
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