Another Azerbaijani Insurance Company Included in Green Card System
The Azerbaijani insurance company Gunay Insurance has been included in the Register of the insurers, who can work within the framework of the Green Card system, said the report of the Compulsory Insurance Bureau of Azerbaijan.
Generally Green Card includes 14 insurance companies in Azerbaijan. The international motor insurance system Green Card has been operating since 1951.
The main purpose of the system is the settlement of claims of road accident victims, committed with the participation of foreign motorists, in accordance with national legislation of the country where there was a traffic accident.
The system began operating in Azerbaijan in 2016.
The insurance policy issued by the companies participating in the Green Card system is valid on the territory of other countries which are a party to this agreement.
In addition to Azerbaijan, the Green Card system includes 48 countries: all the European countries, Russia, Israel, Morocco, Tunisia and Iran. ------77D
-
- Economics
- 26 August 2016 11:39
Economics
-
Azerbaijan's financial standing continues to strengthen as the country's foreign currency reserves have surged to $71 billion as of January 1, 2025, according to the Ministry of Finance. This figure, which includes reserves held by the State Oil Fund of Azerbaijan (SOFAZ) and the Central Bank of Azerbaijan (CBA), far exceeds the nation's external debt, which stands at a fraction of its reserves, specifically nearly 14 times less. This robust reserve position reflects Azerbaijan's fiscal stability and the government’s strategic economic management.
-
According to operational data from the Ministry of Energy of Azerbaijan, in January 2025, the country produced 2.3 million tons of oil, including condensate, and 3.9 billion cubic meters of gas.
-
The State Oil Company of Azerbaijan (SOCAR) has opened a representative office in Albania and is set to launch a specific project this year, the Albanian company "Albgaz" announced.
-
"Azerbaijan is currently among 54 middle-income countries," said Shahmar Movsumov, head of the Economic Affairs and Innovative Development Policy Department of the Presidential Administration, during the presentation of the World Bank’s World Development Report 2024 in Baku on February 10.
Leave a review