Insurance payments on loans in Azerbaijan up by 90 times
In January-July 2024, AZN 2,657,700 of loan insurance premiums were collected in Azerbaijan. This is stated in the insurance review published by the Central Bank of Azerbaijan.
According to the document, this is up by 2.1 times from the same period of 2023.
Over 7 months, payment on this type of insurance rose by 89.2 times as compared to a year earlier and provided AZN 42.500.
In the reporting period, the loss ratio on credit insurance (collection ratio) grew from 0% (nil) to 1.6%.
Finance
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"Qala Insurance" company won the open tender for full voluntary (KASKO) insurance of vehicles of the Agency for Export and Investment Promotion (AZPROMO) under the Ministry of Economy. This is reported on the unified internet portal of public procurement.
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The Central Bank of Azerbaijan has issued a perpetual license to "Golden Pay" company for the right to carry out activities of a payment organization. This is reported on the website of the regulatory body.
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In the first half of 2024, at the expense of funds received from placement of government bonds in the domestic financial market of Azerbaijan, overdue payments of principal debt on public bonds issued in previous years in the amount of AZN 825.5 million were returned to investors. This was reported by the Ministry of Finance.
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By the decision of the Listing Committee of the Baku Stock Exchange (BSE), interest-bearing, unsecured, undocumented, nominal shares are included in the standard market segment of the NBCO ”International" with a nominal value of 2 million manats and a circulation period of 2 years. This is reported by the BSE.
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