License of 'Standard Insurance' may be revoked

Baku. 30 May. REPORT.AZ/ The Financial Market Supervision Authority (FIMSA) took OJSC Standard Insurance under its control.

Report informs, Chairman of FIMSA Board of Directors Rufat Aslanli told reporters.

According to him, Standard Insurance's shareholder is entrusted to settle the issue with capitalization, develop a new development strategy: "We gave the shareholder one month for this. Otherwise, I can remind you that the license of any financial institution is not permanent."