BAKU, Azerbaijan, October 28. The Central Bank of Azerbaijan (CBA) is working on the digitalization of compulsory real estate insurance processes, Executive Director of CBA Ziya Aliyev said during a press conference, Trend reports via CBA.
According to him, this will allow CBA to regulate the market and processes of real estate insurance.
"Digitalization will allow Azerbaijani citizens to issue electronic insurance, which is a trend today. Work is underway to create an appropriate database and integrate electronic insurance with the systems of insurance bureaus. Relevant instructions have been given in the regions of the country. Сentral Bank also considers it obligatory to stimulate and inform the population about compulsory insurance," Aliyev said.