Presentation of the insurers’ certification program on standards of British Charted Insurance Institute was held in Baku. Speaking there, the head of the State Insurance Supervision Service of the Ministry of Finance Namig Khalilov announced plans to change the procedure for licensing of insurance agents and certification of officials in the insurance companies. According to him, the practice is that the licensing of insurance agents is based on tests and in the future it will also focus on the certification, using practices based on the best world experience.
At first, the innovation will be experienced with the students of the Economy University and other specialized higher schools, as well as with starting employees of insurance companies and insurance agents. If successful, this method will be applied in respect of officials of these financial institutions.
Training for certification will begin in November, the head of the Association of Professional Risk Managers (ARPA) Rufat Mahmud said. The first insurers certified by the standards will start operations in December. The cost of the course is 40 manat, the trainings will be conducted by the Association of Insurance Companies of Azerbaijan, and the certification process will be checked by ARPA. --17D-
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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