The insurance company AXA Mbask became the first one in the market of Azerbaijan to gain access to the international system Green Card.
According to the information of the Bureau of Compulsory Insurance (BCI), the right to provide network services on the liability insurance of motor vehicle owners was received the day before.
This is done in accordance with article 50-2 of the law "On compulsory types of insurance", which states that for the provision of services within CTP companies have to be in the registry Green Card.
The insurance company AXA Mbask with registered capital of 19 733 738 manats has been operating since 1992. Its sole shareholder is AXA Seguros Generales, SA, De Seguros Y Reaseguros (Spain). In January-October, the company's premiums amounted to 15.14 million AZN with payments of 9.14 million AZN.
Recall from January 1, Azerbaijan will become a transit member of the Southeast Group Green Card valid for 10 years. The country's representative in the system is BCI. ---17D-
Economics
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On July 26, the Ministry of Economy hosted a meeting with entrepreneurs from the non-oil industry to explore ways to stimulate local production and enhance export potential.
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Azerbaijani internet service providers Aztelekom and Baktelekom will introduce substantial changes to their pricing structure starting August 15, the companies announced today. Under the new tariffs, the minimum internet speed will rise to 100 Mbit/s, with the cost per Mbit/s decreasing from 0.45 AZN to 0.25 AZN. As a result, monthly charges will be set at 25 AZN for 100 Mbit/s, 30 AZN for 150 Mbit/s, and 36 AZN for 250 Mbit/s.
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Independent experts suggest that Azerbaijan may be on the verge of another devaluation of its currency, the manat, due to a shrinking trade and payment surplus. The anticipated economic adjustments come amidst a decline in foreign currency inflows and reduced oil production.
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Azerbaijan’s Foreign Minister Jeyhun Bayramov met today with Ahmed Moallim Figi, the Minister of Foreign Affairs and International Cooperation of Somalia, at the Azerbaijani Foreign Ministry. This meeting followed a discussion held the previous day between Figi and Azerbaijan’s Economy Minister Mikail Jabbarov.
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