"Your Insurance Broker" returned to market
The Central Bank of Azerbaijan has restored in force the licences issued to 6 physical and 1 legal entities (insurance broker "Your Insurance Broker"). This is reported on the website of the regulator.
The report says that the decision was adopted on 27 May, in accordance with the Law "On Insurance Activities". The reason is that the insurance brokers remove circumstances that give grounds for suspension of the licence.
Note that "Your Insurance Broker" was suspended from the market in April.
Finance
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The Accounting Chamber has revealed shortcomings in the Baku State University and the Azerbaijan State Academy of Physical Culture and Sport.
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In 2023, the salary costs of employees of the State Oil Fund of Azerbaijan (SOFAZ) amounted to 9.8 million manats. This is stated in the financial statements of the Fund, which were audited at the end of the last year.
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Azerbaijan's justified state budget expenditures totalled AZN 4,948 million in the first half of 2024.
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As of the end of June 2024, credit unions in Azerbaijan had a balance sheet capital of AZN 9.1 million. This is stated in the credit union review published by the Central Bank of Azerbaijan.
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