The insurance upon fraud in financial structures grows. Last year in the framework of this kind collected 1,008,011 AZN with payments of 2,244,750 manats. For comparison - at the end of 2012 the ratio was 444.25 to 618.69 thousand manats , and in 2011 was paid only 6.12 million AZN with bonuses of 374.58 thousand manats.
According to local experts, the reason lies in improper management of the banking system and the lack of proper control. As a result, only the insurance company Baki Sigorta made a lump sum payment of 1.7 million manat or 75.9 % of total payments in this segment.
Growing demand for this type of service ( recorded 366.7 fold increase payments for 2 years) forced lawmakers to prepare amendments to the law " On Banking " and the central bank - to make a standard , comprising introduction of electronic circulation of documents based only on licensed programs. - 17D-
Economics
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The State Oil Fund of the Republic of Azerbaijan (SOFAZ) has reported a 3.3% increase in its gold investments compared to last year, according to the fund's investment activity results for the second quarter of 2024. Gold investments now account for $8.57 billion, or 14.8% of SOFAZ's US Dollar Portfolio.
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Azerbaijan's Minister of Digital Development and Transport, Rashad Nabiyev, announced on the social network "X" that during the visit of Israel's Minister of Regional Cooperation, David Amsalem, to Azerbaijan, discussions were held on cooperation in innovation, space, and aviation.
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Azerbaijan is bracing for heightened expectations of currency devaluation as declining oil revenues and mounting inflationary pressures fuel concerns over economic stability, experts warn.
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A delegation led by Azerbaijan's Minister of Economy, Mikayil Jabbarov, met with key Italian officials during an official visit to Italy, highlighting the strong and multifaceted partnership between the two countries.
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