In case the insurers do not fulfill their obligations under the agreements, they will be responsible to the Financial Market Supervision Authority (FIMSA), in addition to the client, the head of the Board of Directors Rufat Aslanli said at a meeting with the heads of insurance companies.
Aslanli stressed that, in order to protect the rights of consumers, insurance contracts must be issued in an absolutely understandable form.
He noted that FIMSA is pursuing the goal of restoring public confidence in the insurance sector and ensuring sufficient capitalization. ----71D
Economics
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An investigation led by Ghalib Toghrul, Chairman of the Board of the Center for Economic Research, has highlighted budgetary expenditures in the Azerbaijani districts of Aghdam, Fuzuli, and Khojavend, focusing on civil service projects linked to the reconstruction of territories liberated from Armenian occupation.
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On February 4, Azerbaijani Economy Minister Mikayil Jabbarov met with a delegation of the International Monetary Fund (IMF) led by Anna Bordeaux, head of the IMF mission in Azerbaijan, to discuss economic cooperation, financial sector issues and structural reforms, the ministry said.
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Azerbaijan Railways CJSC (AZD) transported 713,699 passengers in January 2025, marking a 15% increase compared to the same period last year, the company said on Tuesday.
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Last week, Azerbaijani media reported an impending increase in retail bread prices, attributing the rise to an increase in product weight. The following day, an official notification confirmed that the government had no intentions of sanctioning a bread price hike in the country. However, the threat of a price increase for this staple food remains for another reason.
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