The creation and development of local micro insurance is supported by the Asian Development Bank (ADB). According to the Association of Insurers of Azerbaijan (AIA), support will be provided through technical assistance.
According to the head of AIA Orkhan Bayramov, yesterday he held a meeting with representatives of the bank. They discussed the situation in the insurance market, problems and prospects of development of this sphere, as well as the actions and intentions of the Association. "The parties agreed that in July within the traditional International Insurance Forum a seminar and discussion on micro insurance will be arranged.
There was also discussed the creation of new insurance products, including products for the banking sector, finding new channels to increase sales of insurance products, engaging micro finance entities in the insurance market of Azerbaijan.
Azerbaijan has been a member of ADB since 1999. Until the end of last year, the largest Asian financial body provided official Baku with loans and technical assistance totaling $ 1 billion 975.6 million. --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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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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