CBA takes measures against ‘Xalq Insurance’ company official
The Central Bank of Azerbaijan has fined an official of ‘Xalq Insurance’ company in the amount 300 manats. This is reported on the CBA website.
The report says that within the framework of current control processes carried out by the organisation a violation of requirements of Article 78 of the Law ‘On Insurance Activities’ was revealed. Therefore, in accordance with Article 462.1 of the CAO, measures were taken against the employee of the insurance company.
Finance
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The Central Bank of Azerbaijan (CBA) has approved the ‘Concept of Policy on Risk-Based Control’. This is reported on the website of the structure.
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If 2 years ago a share of local revenues in the budget of the Nakhchivan Autonomous Republic was 20-25%, by this year's end a share of local revenues will exceed 50%.
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The Central Bank of Azerbaijan (CBA) has given binding instructions to 'Azsığorta', 'Atəşgah Insurance', 'İpək Yolu Insurance', 'Xalq Həyat Insurance', 'Aqrar Insurance' and 'AzRe Təkrarsığorta'. This is reported on the CBA website.
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The NBCO 'Para will hold a regular general meeting of shareholders on 4 February at 11:00.
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