President of Kyrgyzstan Sadyr Japarov signed a decree introducing amendments to a document on the development of the insurance market.
Under the changes, the functions of the shareholder of State Insurance Organization OJSC will be transferred from the Ministry of Finance to the Presidential Affairs Department.
Previously, these powers were under the jurisdiction of the Finance Ministry, but the state’s shareholding in the company will now be managed through the presidential administration.
In addition, one provision of the previous decree has been declared invalid.
The document was adopted to improve the efficiency of the State Insurance Organization’s operations.
The decree will enter into force in seven days after its official publication.
