Most memorable events of financial sector in 2019 - liquidated structure, applied innovations


December 29, Fineko/abc.az. This year is coming to the end and certainly it was remembered for a number of interesting and important events in the banking and financial spheres.

ABC.AZ reports that the most unexpected event of this year was the liquidation of the Financial Market Supervision Authority (FIMSA). In fact, a range of experts have recently predicted the liquidation of FIMSA, but did not expect it to happen so quickly. So, according to experts, in the best case, FIMSA would be abolished in 2020. It should be noted that the powers of the abolished FIMSA were transferred to the Central Bank.

One of the most anticipated issues in the financial and social sphere was the introduction of compulsory health insurance from 1 January 2020 across the country. But these expectations were not met. It turned out that the application of CHI throughout the country will be delayed and implemented in stages.

Soon after, the news spread with lightning speed across the country that property insurance would also be mandatory. The essence of the matter is that from 1 January those who have not insured their homes will be fined.

There are also interesting points in the provisions on fines themselves. Thus, the owner of uninsured housing will have to pay a fine of 30 manats every 20 days. Naturally, this was met with ambiguity in the society. Although some recognized insurance agencies important and positive, the majority was for the insurance on a voluntary basis.

By Elmir Murad