In the Financial Market Control House (FMCH) of Azerbaijan there is a new assignment - Asim Zulfugarov became Deputy Executive Director (Ibrahim Alyshev) and Acting Director of the Strategic Services Department.
Imran Mammadov was appointed Acting Director of the Banking Activities Supervision Department.
This agency extends the scope of activities, encompassing more niches previously occupied by organizations in the Ministry of Finance of Azerbaijan. So, for the first time its leadership voiced insurance issues, taking over the functions of the former State Insurance Supervision Service. According to the head of the Board of Directors Rufat Aslanli, FMCH has conducted primary market diagnosis, and therefore identified the need to improve the management of companies and the accounting system, strengthening financial stability.
Recall, the House was established as public legal entity in February by the decree of the President of Azerbaijan with the authority to license, regulate and control the securities market activities, investment funds, insurance companies, credit institutions (banks, non-bank credit institutions and the postal operator) and payment systems.--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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