14:40 - 14.08.2026

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August 14, Fineko/abc.az. President of Azerbaijan Ilham Aliyev has approved amendments to the laws "On the Budget System," "On the Chamber of Accounts," and "On Insurance Activity."

Under the new legislation, the Chamber of Accounts has been granted expanded oversight authority regarding the Nakhchivan Autonomous Republic and access to insurance secrets.

Key Updates:

• Oversight in Nakhchivan: The Chamber will issue official opinions on Nakhchivan's budget proposal, its execution, related draft laws, and annual reports;

• Extended Reach: The authority now covers off-budget state funds, targeted funds, public legal entities, state-guaranteed loans, grants, and technical assistance in the autonomous republic;

• Access to Insurance Secrets: The Chamber of Accounts has been granted access to confidential information held by professional insurance market participants deemed as insurance secrecy.