BAKU, Azerbaijan, January 7. The Central Bank of Azerbaijan (CBA) has conferred a regulatory authorization for the operational engagement of insurance agency functions to Premium Bank OJSC, Trend reports via CBA.
As per the data available, there are presently 57 legal entities in Azerbaijan that possess a licensed insurance agent.
The CBA previously granted a comparable license to Xalq Bank OJSC.
To note, "Premium Bank" was founded in 1993 under the name of "AZAL Bank", changed its name to "Silk Way Bank" in 2008, and rebranded in 2018. The authorized capital of the bank is 154.6 million manat ($90.9 million).
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