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
-
On 21 December, Russian Transport Minister Roman Starovoit met with Azerbaijani Minister of Digital Development and Transport Rashad Nabiyev at the Russian Ministry of Transport.
-
Hundreds of trucks are stuck in the Kazakh port of Kuryk, facing delays for several days while waiting for ferry transport to Azerbaijan, the Azakhstan portal reports lada.kz. The backlog is due to a combination of reduced ferry availability, adverse weather conditions, and an influx of cargo rerouted because of expanded sanctions on Russia.
-
Members of the Association of Independent Industrialists and Businessmen (MÜSIAD) have invested 61.3 million manats in Azerbaijan's economy over the past three years, Rashad Jabirli, chairman of "MÜSIAD Azerbaijan," revealed during a media briefing.
-
While the global economy faces persistent challenges, trade between China and Azerbaijan has defied downward trends, demonstrating significant growth. According to official statistics from Azerbaijan, bilateral trade in 2023 reached 3.1 billion US dollars. In just the first ten months of 2024, trade volume increased by 17.1% year-on-year, reaching 3.02 billion US dollars, putting the annual trade figure on track to hit a record high.
Leave a review