Azerbaijani CBA discusses consumer rights protection priorities on insurance (PHOTO)

Finance Materials 25 February 2023 13:35 (UTC +04:00)
Kamran Gasimov
Kamran Gasimov
Read more

BAKU, Azerbaijan, February 25. The Central Bank of Azerbaijan (CBA) discussed priorities on consumer rights protection in the field of insurance, Trend reports via the tweet of the CBA Governor Taleh Kazimov.

"A regular meeting was held at the Central Bank with the heads of insurance companies. At the meeting, a presentation was made on the latest macroeconomic trends and forecasts,” the tweet said.

According to the tweet, during the presentation, global macroeconomic processes, inflation, the impact of the parameters of the interest rate band on the money market, the foreign exchange market, as well as the impact of the latest global economic trends on the financial sector and other topical issues.

“The meeting participants discussed the development of the sector, the main strategic objectives, as well as the state of consumer protection in the field of insurance, and directions for its strengthening," Kazimov said.

The total fees of all insurance companies in Azerbaijan in 2022 amounted to 970.8 million manat ($571 million), and payments - 433.2 million manat ($254.8 million).