The insurance company Alfa Sigorta in January 2013, has the right to apply to the Ministry of Finance for the restoration of a license for compulsory civil liability insurance of vehicle owners (new CTP).
As the head of State Insurance Supervision Service of the Finance Ministry Namik Khalilov told the media, the company appealed to the Office for permission for three types of compulsory insurance, but documented numerous violations CMTPL forced the Finance Ministry to revoke the license. By law, to expire at least six months for re-treatment, he added.
According to the Insurance Supervision Service, during the last three quarters of the company's premiums amounted to 3,819.2 thsd AZN and the payments - 792.88 thousand manats.
The company Alfa Sigorta has been in the local insurance market since 1997 and provides services for 25 types of insurance. In February 2008, it was given a perpetual license.
Until 2005, the insurance company operated under the name Ltd Murad.
The sole founder and major shareholder of the company is Bank Technique.
The authorized capital is 6.75 million manat. - 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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