‘Baku Stock Exchange' (BSE) has started its work since 19 November to take part in the annual meeting of the World Federation of Exchanges (WFE), which will end on 22 November.
According to the BSE, this time the meeting was held jointly with the Malaysian stock exchange organisation. The meeting is to discuss issues such as trends in stock exchanges, changes in the infrastructure of modern exchanges, co-operation between international exchanges, innovation, building bridges between capital markets, exposure of capital markets to changes in the world and maintaining stability.
BSE Chairman Ruslan Khalilov met with Malaysian Exchange Chairman Datuk Muhammad Umar Swift and discussed co-operation initiatives between the two exchanges.
As a reminder, the BSE has been a member of the WFE since January 2020. Applying international expertise to Azerbaijan's capital markets, strengthening the ecosystem, transparency and trust in the market are among the main issues the BSE is focusing on.
Finance
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The Unemployment Insurance Fund (UIF) under the Ministry of Labor and Social Protection of the Population does not provide information about its investment activities, the conclusion of the Chamber of Accounts on the draft budget law for the Fund for 2025. According to the document, the draft budget does not include any indicators related to the Fund's investments or income from such activities.
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As of the end of 2023, investments of the State Social Protection Fund (SSPF) under the Ministry of Labor and Social Protection of the Population amounted to 2,515.3 million manats, the conclusion of the Chamber of Accounts on the draft budget law for the Fund for 2025.
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In Azerbaijan, approximately 6.5 billion manats will be allocated from the state budget for 2025 to implement the "Social and Economic Development Strategy for 2022-2026", the conclusion of the Chamber of Accounts on the draft law "On the State Budget for 2025." According to the document, this amount represents a 17.2% increase compared to the approved forecast for 2024.
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The Central Bank of Azerbaijan has reinstated the license for an insurance agent issued to an individual, Nabiyev Sabukhi Zakirovich, the regulator's official website reported. The announcement states that the decision was made on November 19 in accordance with the Law on Insurance Activity. The reason for the reinstatement is that the insurance broker has addressed the issues that led to the suspension of the license. Currently, there are 426 individuals and 57 legal entities holding insurance agent licenses in Azerbaijan.
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