Baku Interbank Currency Exchange (BBVB) and Alfa Sigorta signed an agreement on the participation of insurance companies in the money market Bourse E-System of Trades (BEST).
Local insurer has received access to the wholesale cash banking market on an equal footing with banks and exchange committed to provide him access to the trading system BEST along with settlement and information services.
Transactions and balances in the segment of the money market are carried out on the basis of the "Interim Regulations of operations to attract placement of funds in the BEST", "Rules of the organization of trading and settlement in the BEST", "Rules of the temporary settlement of credit and deposit transactions concluded within the framework of the trading session in the credit section of BBVB organized money market" and "Specifications of financial instruments in MONEY-MARKET ".
Alfa Sigorta has become the seventh structure after the Bureau of Compulsory Insurance, Ateshgah Sigorta, Buta Sigorta, Ata Sigorta, AzRe and AzSigorta, which signed an agreement on the participation of insurance companies in the MONEY-MARKET Bourse E-System of Trades (BEST) .
JSC Alfa Sigorta started its activity in 1997. It provides services for 33 types of insurance, including 30 voluntary and 3 mandatory types.
CJSC Baku Interbank Currency Exchange was established June 21, 1993. Its shares were divided equally among five shareholders. However, after the unification of the last three shareholders, the list of the shareholders today includes CBA, IBA and Capital Bank, as well as the non-bank credit organization Agrarkredit.
The Bourse E-system of Trades is based on the principle of universality in the provision of exchange services, an advanced platform for the integrated management of foreign exchange risk and short-term liquidity of banks. BEST allows the Azerbaijani banks not only to conduct transactions in foreign currencies, but also to the active drawing and placing on the interbank credit market. --17D-
Economics
-
Azerbaijan’s corporate sector needs to develop an appropriate system for assessing employees, according to Jalal Gasimov, CEO of PASHA Holding. Speaking at the Human Development Forum in Baku, Gasimov emphasized the importance of moving beyond merely evaluating employees based on performance outcomes.
-
The launch of the Azeri Central East (ACE) platform in Azerbaijan's Caspian Sea shelf marked an important milestone for BP in 2024, said BP CEO Murray O'Kinkloss on February 11, presenting the company's 2024 report.
-
Cargo transportation along the Middle Corridor (Trans-Caspian International Transport Route, TMTM) reached a record 3.3 million tons in 2024, marking a 20% increase year-on-year, according to the Secretary General of the International Association "Trans-Caspian International Transport Route" Khaydar Abdikerimov.
-
Azerbaijan’s national carrier AZAL and Israel’s El Al Airlines have announced a new partnership under a codeshare agreement, allowing passengers of both airlines to access joint flights, the carriers said in a statement on Sunday.
Leave a review