The Fiftieth Civil Code section (governs the relationship between the subjects of insurance) will be accessible to mass.
As Turan said the head of Azerbaijan Insurers Association (AIA) Orkhan Bayramov , the organization had begun preparing a new edition of options in the interests of consumers. "There will be improved not only style, but a legal interpretation of the document. Moreover, the Code will be attached Memo for policyholders to get acquainted with difficult concepts," he added.
In the country's insurance market there are many cases when the insurer refuses to pay as a result of the insured event and unprovable non- insured citizen small legal nuances. Frequent conflicts have prompted the insurance community to work on a new edition of the Civil AR.
AIA was founded in December 2006. The main purpose of the Association is to ensure development of the insurance market of Azerbaijan, as well as a united front insurers when discussing the problems and prospects of local security. - 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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