2017 November 03 ( Friday ) 17:53:08
- Bank Ombudsman Achieves First Reconciliation between Bank and Creditor
- Finance Ministry to Place State Bonds of AZN 115 Million in November
- State Oil Fund Sold Currency at Auction in October 26.2% More Than in September
- 10,929 Insurance Contracts Concluded on Compulsory Real Estate Insurance in October
- Number of Contracts for Compulsory Motor TPL Insurance Increased by 21%
- Foreign currencies rates fixed by Central Bank
Baku / 03.11.17 / Turan: The Bank Ombudsman, functioning in Azerbaijan since September 2017, achieved the first reconciliation between the bank and the creditor, the Ombudsman said.
The Ombudsman mediated in the dispute between a citizen Abit Abdullah Oglu Baghirov and Mugan Bank. The subject of the dispute was the citizen"s debt to the bank in US dollars.
After discussions with the bank"s representatives, taking into account the health problems of the 70-year-old A. Baghirov (suffering from diabetes and a stroke), and taking into account the low level of social welfare, the bank agreed to forgive the remaining debt, and an amicable agreement was signed.
At the same time, the amount of the debt was not indicated in the Ombudsman"s message.
It should be recalled that the decision to establish the Bank Ombudsman was adopted by the general meeting of the Association of Banks of Azerbaijan in February 2017. The Ombudsman started functioning in September.
The powers of the Bank Ombudsman include settling debt disputes that do not exceed $ 2,000. -71D-
Baku / 03.11.17 / Turan: The Ministry of Finance announced the plan of placement of government bonds for November, according to which an auction on attracting AZN 45 million was set for November 7.
In November, the Ministry of Finance intends to place government bonds for a total of 115 million manat, which is 35 million manat more than in the previous month. Discount bonds with circulation period of 364 days are put on the first auction. At the second auction, it is planned to sell three-year bonds worth 10 million manat.
This year, the Ministry of Finance has issued bonds for a total of 700 million manat to cover the state budget deficit. In 2018, it is planned to raise funds in the same amount for this purpose in the local market. -----08D--
Baku / 03.11.17 / Turan: In October, the State Oil Fund of Azerbaijan at the currency auctions of the Central Bank sold 318.7 million dollars, which is 66.5 million dollars or 26.2% more than in September.
In general, for the first ten months of 2017, the State Fund sold currency at currency auctions for the amount of 2 billion 804.72 million dollars, which is 34.5% less compared to the same period of the previous year.
In October 2017, the national currency rate varied between 1.7001 and 1.7003 manat per dollar. -71D-
Baku /03.11.17/ Turan: In October of this year the participant insurers of Compulsory Insurance Bureau concluded 10 929 compulsory real property insurance agreements collecting 2 207 063 manat of insurance premiums. The objects insured according to those agreements were houses and apartments (8225 in number), administrative buildings (145) and other immovable property types (2559).
In comparison with the last year"s same period, the number of concluded contracts decreased by 42%, whereas the amount of collected insurance premiums grew by 25%.
There were also registered 352 agreements on compulsory third party liability insurance associated with the use of real property with 20 790 manats of insurance premiums and 2 contracts on compulsory personal accident insurance of passengers with 930 manat of premiums.
At present, 13 insurance companies, which are the members of Azerbaijani Compulsory Insurance Bureau, provide compulsory real property insurance policies. Those are Ateshgah Insurance Company OJSC, Standard Insurance OJSC, AtaInsurance OJSC, Xalg Sigorta OJSC, PASHA Insurance OJSC, AXA MBASK OJSC, AzSıgorta OJSC, State Insurance Company of Azerbaijan Republic, Mega Insurance OJSC, Silk Way Insurance OJSC, Azerbaijan Industry Insurance OJSC, Qala Insurance OJSC and Günay Sıgorta OJSC. -0--
Baku/03.11.17/Turan: In October of this year 96 040 contracts on compulsory third party liability insurance of motor vehicle owners were registered in the information system of Compulsory Insurance Bureau. 14 199 of the contracts were related with the motor vehicles registered abroad and being in the territory of Azerbaijan on transit. The amount of insurance premiums collected by insurance companies on standard and border insurance agreements made 7 635 989 manats for the reporting period. Compared to the relevant term of 2016, the number of insurance contracts and volume of collected premiums grew by 21% and 16% respectively.
Since 1st November 2016, compulsory motor insurance contracts are concluded electronically.
At present, 13 insurance companies, which are the participants of Azerbaijani Compulsory Insurance Bureau, provide compulsory motor insurance policies to citizens. Those are Ateshgah Insurance Company OJSC, Standard Insurance OJSC, AtaInsurance OJSC, Xalg Sigorta OJSC, PASHA Insurance OJSC, AXA MBASK OJSC, AzSıgorta OJSC, State Insurance Company of Azerbaijan Republic, Mega Insurance OJSC, Silk Way Insurance OJSC, Azerbaijan Industry Insurance OJSC, Qala Insurance OJSC and Günay Sıgorta OJSC. -0--
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