The law will oblige insurance companies to publish financial reports in a timely manner.
Turan was told by the Advisor to the Chairman of the Board of Directors of the Financial Markets Supervision Authority (FIMSA) Rufat Abbasov.
He noted that, after making appropriate changes in legislation the insurance companies will be required to publish quarterly reports on their official websites.
“Currently, insurance companies send monthly reports to FIMSA and we, in turn, inform the media about it. Now according to the law, the insurance companies are obliged to publish their annual reports, following the approval by the audit. After amending the legislation, all will change,” Abbasov said.
It should be noted that at present the vast majority of insurance companies do not publish financial reports on their official websites. This makes it impossible to learn their financial condition. ====71D
Economics
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Azerbaijani President Ilham Aliyev has signed amendments to two presidential decrees, refining the roles and appointments of the State Customs Committee's representatives abroad, including in international organizations.
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Auditing organizations and independent auditors in Azerbaijan concluded 7,232 contracts valued at 133.2 million manats ($78.4 million) in 2023, reflecting increases of 20% in the number of contracts and 7.1% in their total value compared to the previous year, according to the Chamber of Auditors.
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The third meeting of the auction commission was held to evaluate the proposals submitted by participants in the auction for the Gobustan Solar Power Plant project, supported by the European Bank for Reconstruction and Development (EBRD). The meeting focused primarily on determining qualification eligibility and selecting the auction winner, according to the State Agency for Renewable Energy Sources.
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There is no sensationalism in the recent renaming of the Azerbaijani ship Karabakh to Mingachevir; the new name was given to the ship to ensure that two vessels would not operate under the same name, the Merchant Fleet of Azerbaijan Caspian Shipping Company (ASCO) CJSC told Turan.
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