BAKU, Azerbaijan, December 26. The Board of the Central Bank of Azerbaijan (CBA) has decided to determine the amounts of a one-time cash payment paid by insurers wishing to operate under the "Green Card" insurance system and insurance premiums that will be applied by insurers entitled to operate under the mentioned system, Trend reports.
The relevant decision was signed by Chairman of the CBA Taleh Kazimov.
In accordance with this decision, the amount of one-time payments within the "Green Card" system is set at 10,000 manat ($5,880).
Insurance premiums under "Green Card" agreements for vehicles registered in Azerbaijan and going to Türkiye and Iran range from 12 to 440 manat (from $7.06 to $258.8); those going to Belarus, Moldova, Russia, and Ukraine - from 10 to 400 manat (from $5.8 to $235.2); to other countries - from 30 to 1200 manat (from $17.6 to $705.8).
Insurance premiums for vehicles registered in Georgia and Kazakhstan and traveling to Türkiye, Iran, Belarus, Moldova, Russia, and Ukraine are determined in the amount of 15 to 1,630 manat ($8.82 to $960); for vehicles registered in Georgia and Kazakhstan and traveling to other countries - from 30 to 2,389 manat (from $17.6 to $1,140).
The decision enters into force on January 1, 2023.