Vehicle owners will be able to buy policies CTP (compulsory civil liability of car owners to third parties) not only through agents and insurance companies, but also in the mode online.
According to the head of the State Insurance Supervision Service under the Finance Ministry Namig Khalilov, it will be possible after making appropriate changes to the insurance legislation at the autumn session of the Milli Majlis. The innovation will allow translating popular type of insurance in the electronic document format after six months - a year after approval by Parliament.
The bill amending the law "On compulsory types of insurance" shas been ent for examination to the Administration of the President. The purpose of the amendments and changes is facilitating the purchase of insurance policies and the reduction of loss of time for this purpose. --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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