Insurance companies - members of the Bureau of Compulsory Insurance in July collected on compulsory insurance of civil liability of vehicle owners to third parties (CTP) AZN 5.6 million of premiums (+7.2% compared with the June of that and - 6.7% compared to July 2012).
According to the press release from the Bureau, this amount was collected on the basis of concluded insurance contracts 72,800 (+ 5.9 and - 1.9%, respectively). Of these, 23 100 were transit insurance policies and foreign vehicles in transit passing through Azerbaijan. Previously, the contract period was 1 month with the adoption of amendments to the law on compulsory insurance has two options - from 1 month to 1 year.
In addition, in July, the average size of the premium under one contract of 77 manats. - 17D-
Economics
-
Azerbaijan significantly increased its rice imports to 52,500 tons in the first nine months of 2024, marking a 15.1% rise in physical weight and a 33.3% rise in import value compared to the same period in 2023, according to government data. The average price per ton of rice climbed by 15.8% to $1,042.17, up from $899.77 last year, further underscoring Azerbaijan’s reliance on imports to meet domestic demand, with 85% of the country’s rice needs covered through foreign sources.
-
The State Tax Service of Azerbaijan has called on businesses to conduct non-cash payments solely through POS terminals, requiring merchants to issue receipts from both the POS terminal and cash register for transparency, as part of efforts to curb card-to-card transactions outside regulated channels.
-
The Green Climate Fund (GCF), an operating entity of the financial mechanism of the UN Framework Convention on Climate Change (UNFCCC) and the body responsible for implementing the Paris Agreement, has included Azerbaijan for the first time in its list of countries eligible for funding.
-
The International Telecommunication Union (ITU), the Permanent Mission of the Republic of Azerbaijan to the UN Office in Geneva and the Ministry of Digital Development and Transport organized for the heads of about 30 diplomatic missions accredited in Geneva a special briefing on the initiative "Green Digital Action", which will be presented during COP29 in November in Baku, the Ministry of Digital Development and Transport of Azerbaijan reported.
Leave a review