CBA provides mandatory instruction to insurance and reinsurance brokers
The Central Bank of Azerbaijan (CBA) has issued a mandatory instruction to ‘Insurance and Reinsurance Brokers Xəmsə’.
This is reported on the website of the Central Bank.
According to the statement, during the planned and comprehensive inspection conducted by the institution, the company's compliance with insurance legislation and licence requirements was checked.
According to Article 102.2.9 of the Law ‘On Insurance Activity’, the insurance and reinsurance broker provided a mandatory instruction regarding the identified defects and shortcomings.
Finance
-
The analysis shows that the economic growth in Azerbaijan in 2026-2028 will be fully ensured at the expense of the non-oil and gas sector.This is stated in the conclusion of the Accounting Chamber on the Draft Law ‘On State Budget for 2025’.
-
In January-August 2024, two state financial institutions of Azerbaijan jointly paid dividends in the amount of AZN 169.9 million, or about $100 million. This is stated in the conclusion of the Accounting Chamber over the Draft Law ‘’On State Budget for 2024‘’.
-
President Ilham Aliyev's decree of 28 March 2022 ‘On Approval of the Upper Limit of Ratio of Non-oil Base Budget Deficit to Non-oil Gross Domestic Product (GDP)’ is not honoured.This is stated in the conclusion of the Accounting Chamber on the Draft Law ‘On State Budget for 2025’.
-
In 2025, the subsistence minimum in Azerbaijan will amount to AZN 305 for able-bodied population, AZN 232 for pensioners and AZN 246 for children. This is stated in the Draft Law ‘On Subsistence Minimum for 2025’.
Leave a review