Azerbaijan not to lift ban on establishment of foreign insurers’ branches

Azerbaijan not to lift ban on establishment of foreign insurers’ branches
# 27 June 2007 11:27 (UTC +04:00)
The Finance Ministry told APA-Economics that the country has undertaken to streamline insurance legislation amid the WTO accession process.
“However, the ban will not be canceled. This move aims to protect interests of local companies,” the ministry said.
There are 29 insurance companies (of which 6 with foreign equity) in Azerbaijan. /APA-Economics/

Politics

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