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It should be noted that at present the vast majority of insurance companies do not publish financial reports on their official websites.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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Azerbaijan President Ilham Aliyev has signed a decree to strengthen social protection for pensioners by implementing pension indexation, effective from January 1, 2025.
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The Italian government has extended the deadline for applications in the international tender for the sale of several strategic assets until February 14, confirming that a bidder from Azerbaijan remains among the frontrunners.
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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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