State Agency for Compulsory Health Insurance of Azerbaijan has officially become a public legal entity, as the country's President has signed the decree that provides for the legal basis of its functioning.

Under the decree, the Charter of the State Agency for Compulsory Health Insurance was approved, the Agency told APA. The powers of the founder were vested in the President of the Republic of Azerbaijan and the State Agency itself, an APA release reads.    

The initial authorized capital of the Agency is formed at the expense of the state budget and amounts to AZN 4 million (~ EUR 2 million) .  

The Charter reflects the goals and directions of the State Agency for Compulsory Health Insurance, its tasks and responsibilities, its management, the size of the Agency's authorized capital, etc.

The State Agency for Compulsory Health Insurance was registered as a legal entity of public law.