Insurance company Bashak Inam Sigorta Ceases Operations
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
-
- Social
- 24 February 2017 12:48
Economics
-
Azerbaijan's financial standing continues to strengthen as the country's foreign currency reserves have surged to $71 billion as of January 1, 2025, according to the Ministry of Finance. This figure, which includes reserves held by the State Oil Fund of Azerbaijan (SOFAZ) and the Central Bank of Azerbaijan (CBA), far exceeds the nation's external debt, which stands at a fraction of its reserves, specifically nearly 14 times less. This robust reserve position reflects Azerbaijan's fiscal stability and the government’s strategic economic management.
-
According to operational data from the Ministry of Energy of Azerbaijan, in January 2025, the country produced 2.3 million tons of oil, including condensate, and 3.9 billion cubic meters of gas.
-
The State Oil Company of Azerbaijan (SOCAR) has opened a representative office in Albania and is set to launch a specific project this year, the Albanian company "Albgaz" announced.
-
"Azerbaijan is currently among 54 middle-income countries," said Shahmar Movsumov, head of the Economic Affairs and Innovative Development Policy Department of the Presidential Administration, during the presentation of the World Bank’s World Development Report 2024 in Baku on February 10.
Leave a review