Azerbaijan, Baku, July 12 / Trend U. Ismayilova /
The Basak Inam Sigorta Sirketi insurance company will discuss increasing its authorized capital from 2 million manat to 3.5 million manat to meet the new minimum capital requirements at a shareholders' meeting in August, Assistant Chairman Hikmet Allahverdiyev said.
"The capital will be partially increased using 2009 profits and partially using additional shareholder investments," Allahverdiyev said.
He added that the company's 2009 financial figures will be approved at the shareholders' meeting.
Basak Inam Sigorta Sirketi is owned by the Turkish Groupama Sigorta AS.
The company has operated since 1996. It renders 31 insurance services.
On July 12, the official exchange rate is 0.8038 manat to $1.