BAKU, Azerbaijan, July 11. The Central Bank of Azerbaijan does not plan to take strict measures for the lack of an insurance policy for real estate against Azerbaijani citizens, Executive Director at the Central Bank of Azerbaijan (CBA) Ziya Aliyev said, Trend reports.
According to him, the CBA has done a lot of work in the field of promotion of real estate insurance of citizens.
He said the effectiveness of the carried out work in previous years is clearly visible.
So, if this trend continues, there will be no need for severe penalties.
According to Aliyev, owners of real estate can use both mandatory and voluntary forms of insurance.
The compulsory insurance of apartments in Baku is 50 manat ($29.4), in Ganja, Sumgayit and Nakhchivan - 40 manat ($23.5), in other regions of Azerbaijan - 30 manat ($17.6).