Baku / 16.04.20 / Turan: President Ilham Aliyev on Thursday signed a decree appointing Elman Rustamov as head of the Central Bank of Azerbaijan.
For this position he is appointed for the sixth time. Elman Rustamov has been managing the Central Bank since 1995.
On April 9, the Parliament approved him as a member of the Board of the Central Bank. This decision was supported by 91 deputies, one voted against, and another abstained.
According to the Constitution, members of the CBA Board are approved by the Parliament on the proposal of the country's President. Then the head of state from among the Board members appoints the head of the CBA. The term of office of a member and head of the Board of the CBA is five years. –71D-
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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