The legislative concept on the financial statements of Azerbaijan Insurers became clearer with the adoption of amendments to the law "On insurance". If before insurance or reinsurance companies and insurance intermediaries passed annual reports to the State Insurance Supervision of the Ministry of Finance within 90 calendar days, and the monthly and quarterly documentation had to be submitted within 20 days, the situation has changed now.
The Ministry of Finance in December 2011 adopted a regulation, according to which the quarterly report is to be submitted to the regulator for 20, and a monthly report - within 10 days. Now this provision is not defined under the law, but by a piece of legislation - in paragraph 3 of Article 78 of the law "On insurance". - 17D-
Economics
-
On July 26, the Ministry of Economy hosted a meeting with entrepreneurs from the non-oil industry to explore ways to stimulate local production and enhance export potential.
-
Azerbaijani internet service providers Aztelekom and Baktelekom will introduce substantial changes to their pricing structure starting August 15, the companies announced today. Under the new tariffs, the minimum internet speed will rise to 100 Mbit/s, with the cost per Mbit/s decreasing from 0.45 AZN to 0.25 AZN. As a result, monthly charges will be set at 25 AZN for 100 Mbit/s, 30 AZN for 150 Mbit/s, and 36 AZN for 250 Mbit/s.
-
Independent experts suggest that Azerbaijan may be on the verge of another devaluation of its currency, the manat, due to a shrinking trade and payment surplus. The anticipated economic adjustments come amidst a decline in foreign currency inflows and reduced oil production.
-
Azerbaijan’s Foreign Minister Jeyhun Bayramov met today with Ahmed Moallim Figi, the Minister of Foreign Affairs and International Cooperation of Somalia, at the Azerbaijani Foreign Ministry. This meeting followed a discussion held the previous day between Figi and Azerbaijan’s Economy Minister Mikail Jabbarov.
Leave a review