Baku / 19.04.17 / Turan: Changes will be made in the "On Currency Regulation", the relevant draft law is ready, Turan was told in the parliament. According to the changes, in addition to banks, local branches of foreign banks and post offices, resident legal entities and individuals who have received the appropriate license will be able to exchange money. The locations of the functioning of the exchange points will be coordinated with the Chamber for the Supervision of Financial Markets.
To ensure stability of manat the Central Bank will have the right to intervene in the foreign exchange market, set a margin between the rate of sale and purchase, as well as the upper limit of the exchange rate.
The license for currency exchange activities will be issued by the Financial Market Supervisory Authority (currently the Financial Market Supervision Chamber.) The currency exchange offices were closed in January 2016, a month after the second devaluation of the manat. -71D-
Finance
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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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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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