The World Bank will help make insurance massive institution of civil society.
As part of its technical assistance project "Consumer protection and financial literacy", funded by the Swiss State Secretariat for Economic Affairs (SECO), Azerbaijan can face a precedent of the insurance ombudsman.
The final statements are still far ahead, but the Public Service of Insurance Supervision Ministry of Finance study the experience of the advanced countries in the creation of the Institute of the Insurance Ombudsman, the head of this structure Namik Khalilov told Turan.
According to him, today they receive a lot of complaints of citizens about the insurance companies (especially for compulsory items), and the only way to resolve the conflicts is the court. Creating a service of human rights protection will relieve the courts, and at the same time give the industry in the hands of financiers, not lawyers.
In the last year (based on the proceedings of 2011, excluding litigation) the office ordered insurance companies to return the citizens more than 200 thousand manats on claims. -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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