Throughout 2012 the Bureau of Compulsory Insurance in the form of membership fees, security deposits, and calendar payments have accumulated 9.4 million manat.
As the Executive Director Elkhan Guliyev said, the funds are placed in the form of deposits in nine local banks with better capitalization and corporate governance.
Guliyev said, the law "On compulsory types of insurance," within which the Bureau acts, has been in force from 16 December 2011. The Bureau consists of 12 insurers, and their number could increase this year by a maximum of 2 or 3 in the case of a positive response to the application.
The main function of the Bureau is implementation and administration of compensation payments to certain financial fund, which will be made through the payment of compensation. Compensation will be made in the event of bankruptcy of insurance companies - members of the Bureau. - 17D-
Economics
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Azerbaijani President Ilham Aliyev has signed amendments to two presidential decrees, refining the roles and appointments of the State Customs Committee's representatives abroad, including in international organizations.
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Auditing organizations and independent auditors in Azerbaijan concluded 7,232 contracts valued at 133.2 million manats ($78.4 million) in 2023, reflecting increases of 20% in the number of contracts and 7.1% in their total value compared to the previous year, according to the Chamber of Auditors.
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The third meeting of the auction commission was held to evaluate the proposals submitted by participants in the auction for the Gobustan Solar Power Plant project, supported by the European Bank for Reconstruction and Development (EBRD). The meeting focused primarily on determining qualification eligibility and selecting the auction winner, according to the State Agency for Renewable Energy Sources.
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There is no sensationalism in the recent renaming of the Azerbaijani ship Karabakh to Mingachevir; the new name was given to the ship to ensure that two vessels would not operate under the same name, the Merchant Fleet of Azerbaijan Caspian Shipping Company (ASCO) CJSC told Turan.
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