At the local financial market there is a new player - Limited Liability Fidan Finance.
The Tax Ministry noted that it was previously Joint Stock Company Insurance Company Fidan Sigorta. Rebranding and change the scope was due to the fact that in March, the State Insurance Supervision Service revoked its license. The relevant order was issued by the Ministry of Finance on March 6.
As Turan was told in the Finance Ministry, the license of the financial structure was suspended earlier by the Minister on 19 August 2011 and the term "ultimatum" expired on 20 February 2012. Failure to comply with the requirements by the supervisory authority on compliance with regulatory requirements for financial stability and solvency of the name will be officially expunged from the register and the State Insurance Supervision Service.
The company Fidan Sigorta acted in the insurance market since 1994. In 2009 it was transformed into a joint stock company (JSC) and provides services for 20 types of insurance.
Its shareholders were two individuals and one entity. The paid-up share capital amounted to 2.26 million manat. - 17D-
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