Azerbaijan-based insurance companies attend a seminar on corporate governance

Azerbaijan-based insurance companies attend a seminar on corporate governance
# 19 December 2008 16:05 (UTC +04:00)
Baku. Elnur Huseynguluev - APA-Economics. The International Finance Corporation (IFC) has today held a seminar on the topic of “Corporate governance in Azerbaijan-based insurance companies and international practice” for insurance companies.
Namig Khalilov, Director of the State Insurance Supervision Office, said that the seminar is important for the insurance companies.
“Corporate governance both creates conditions for attracting investment and facilitates access to capital markets. Corporate governance is a system that sets the target and defines a set of means towards achieving these goals,” he added.
According to Namig Khalilov, corporate governance is also reflected in Paragraph 29 of the regulations of the Azerbaijan Insurers Association (ASA).
Jamil Melikov, Chairman of the ASA Supervisory Board, said that the Insurance Law contains relevant article for the development of corporate governance system in insurance companies. “Corporate governance covers the relationship between the management, supervisory board, shareholders and other stakeholders of a company. In addition, this system plays an important role in strategic partnerships and attracting investment,” he noted.
#
#

THE OPERATION IS BEING PERFORMED