The insurance company Bashak Inam Sigorta appealed to the Financial Markets Supervision Authority (FIMSA) about the cessation of activity, the head of the FIMSA Board of Directors Rufat Aslanli told the media.
According to him, consent to the company's closure has been given.
It should be noted that the joint Turkish-Azerbaijani company was established in 1996. On the Turkish side, it was founded by Bashak Sigorta, and on the Azerbaijani side – by the re-insurance company Inam established by the World Bank, Turan Bank, and Agrarkredit.
The authorized capital of the company amounted to 7 million manat. ----71D
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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