CBA issues licenses for insurance agent activities to 2 more banks

The Central Bank of Azerbaijan (CBA) has issued insurance agent licenses to Bank Eurasia and Bank BTB OJSC, Report informs, citing the CBA.

Thus, currently 60 legal entities, including 21 banks, have insurance agent licenses in Azerbaijan.

Bank Eurasia was established in 2007. Some 37.5% of the bank's shares belong to Euro Standard LLC (which owns 33.85% of Xalq Bank OJSC and 50% of Xalq Insurance OJSC), 37.5% to PDM Group LLC, and 25% to Azbizneskom LLC.

Bank BTB was established in 2010. Some 76.74% of the bank's shares belong to Nigar Mehdiyeva, 17.68% to Rza Sadiq (Chairman of the Supervisory Board), and 5.58% to Tukazban Mahmudova.