Полоцкий государственный университет


The Republic of Belarus and the Republic of Azerbaijan maintain collaboration in diverse spheres including education. Though it made possible for the students and lecturers at the Faculty of Finance and Economics of PSU to participate in the training program in some insurance companies in Baku.

The training program for the students and lecturers at the Faculty of Finance and Economics of PSU

The training for lecturers and students from PSU

On May 12 – 20, 2018 Inga Zenkova, Head of the Department of Economics, Management and Economic Theory, PhD in Economics, meanwhile taking BSU postgraduate study course "Economic theory"; Elena Bogdanova, Lecturer at the Department of Economics, Management and Economic Theory, a follower of PSU postgraduate study course "Economics and national economy management"; N. Myradova, the Master’s student of the double diploma program "Regional planning and development" (in cooperation with Rezekne Academy of Technologies, Latvia) and I. Skopiuk, the student pursuing "Economics and national economy management" course, participated in the international training at Qala Hayat and Qala Sigorta (Baku, Azerbaijan).

Furthermore, Elnur Sadygov, Doctor of Economics of the Russian Federation and the Republic of Azerbaijan, Professor at the Department "Finance and financial institutions" (Azerbaijan State University of Economics) is I. Skopiuk`s academic advisor.

Representatives from Qala Hayat and Qala Sigorta (Baku, Azerbaijan)

Elnur Sadygov:

Qala Hayat and Qala Sigorta are internationally tied. Here we mean countries outside and inside the CIS. In this regard, the cooperation with Polotsk State University was advantageous. We say the training sessions undertaking by students and lecturers influences their further development in the sphere of economics. It is planned the effective insurance company and the university collaboration to be maintained.

Aidyn Rakhmanov, Vice-Chairman in the Board of Directors:

The impressions are nice, the perspectives are promising. For one thing, it is always a pleasure to welcome guests, not to miss a chance to show Azerbaijan magic regardless they spend a couple of days in charming and enchanting Baku.

For another thing, we, being insurance brokers, never miss a possibility to present our interests, take an outlook for insurance procedure and its role in economics. Also, we introduce our company objectives plus touching economic and political situations in the country, its stability and other benefits. Surely, it hugely drives the company when encompassing a wide range of people with a various level of interests – from a student to a Professor.

One more point is about fresh thinking. So the discussion led from a different perspective always affects positively. It seems as a really right thing to provide such a kind of the training. I expect further fruitful cooperation with PSU. And, what is more, I suggest to organize business-information tours for broadening the areas of cooperation.

Inga Zenkova:

When studying the political economy, I experience the way macroeconomic policies work being implemented into different markets. In our case we mean insurance sector. While the discussions with Kamal Ibragimov, Chairman at Qala Hayat and Qala Sigorta Board of Directors, and Aidyn Rakhmanov, Vice-Chairman at Board of Directors, we got to know how important it is to maintain the right macroeconomic policy for the insurance market and to develop its institutional foundations. Consequently, the insurance market separate elements are capable to develop this policy which involves the entire economic levels.

As far as I am concerned, I noticed the effective marketing strategy provided by Qala Hayat and Qala Sigorta. Nowadays these companies offer an extensive range of insurance procedures for natural or legal person. These comprises property, builders and financial risks, car, transportation, liability, third party and professional liability, compulsory land vehicle owners` liability, compulsory natural and legal persons` property, compulsory vehicle occupants, land vehicle owners` liability for travelling abroad, accident, health, travel, endowment life and pension insurance. The companies` directors are constantly thinking of widening the range of the insurance products and its price. Notably, the company understands that the business sector is going to be the most dynamic in comparison to other economic sectors. Therefore, there is a stable and exciting job centering around new products creation. The ones which deal with a continuous business development and economic impact insurance.

I realized that one of the best way to success for Qala Hayat and Qala Sigorta is a proper sense of medium-term and long-term strategies. And again the professionalism and service culture applied are of high importance. Additionally, the company maintains constant professional development. In this regard, Kamal Ibragimov has PhD in Economics meanwhile following postgraduate study course. And Aidyn Rakhmanov is finishing his undergraduate study. I remember myself preparing to defend my thesis. At that time students asked questions dwelling upon PhD efficiency. The magnificent Qala Hayat and Qala Sigorta directors has already known the answer – the efficiency presupposes stability and function effectiveness of the insurance company in various macroeconomic conditions.

Students and lecturers from the Department of Economics, Management and Economic Theory and Elnur Sadygov

Elena Bogdanova:

For me, personally, that training abroad and travelling to sunny Baku became both professionally and spiritually enriching. Besides, it was my first time going so far and the very first flight.

The professional training was provided by one of the leading insurance companies of Azerbaijan. Kamal Ibragimov, the company director, PhD in Economics, a postgraduate student, has a huge experience in the insurance and business spheres. So he told us about successful business leading factors and constituents, the importance of the real sector economics and science interaction.

We participated in the work-meeting with Aidyn Rakhmanov. Significantly, the company explores up-to-date methods concerning goals and strategic targets setting. The company team nicely work together: each member is seemed to be a link of the structured chain. There one may feel the atmosphere of respect and confidence. It was pleasant to be there and to absorb the professionalism.

Also, we felt the hospitality of the Azerbaijanians. In case you do not know where a particular place is they will not only show the way but accompany you. The generosity and the attitude towards tea ceremony are inspiring. The tea is served in the special pear-shaped glasses always with a quince, wild cherry or watermelon jam.

Nursoltan Myradova:

As for me, the double diploma "Regional planning and development" opened lots of possibilities. Recently, I was lucky to take the professional training at Qala Hayat and Qala Sigorta. Any training abroad is a chance to get not only new skills, but be experienced in living in an unknown place. We were able to meet the company directors. It was nice that they spent some time and tell us about themselves and the directions they work. Moreover, we attended the meeting which dedicated to the company issues. It is worth noticing that the company team is really friendly and united, everyone knows their responsibilities and completes them according to the deadlines.

Ivan Skopjuk:

The training in Baku, the capital of Azerbaijan, to me, being the beginner in the sphere of economics, helped to confirm the needed qualities of a current specialist in the sphere of economics. The business meetings and conversations with the company directors appeared to be the chances to get involved in the company and its staff management, reaching results, the ways to start negotiations and management policy.

We visited our university partner. Thanks to this, we participated in the professional training. We also met Head of the Department of Economics.

Ivan Skopjuk

Besides, the Faculty of Finance of Azerbaijan State University of Economics organized the international optional seminar "Commercial bank intermediation on Azerbaijan financial market". Elnur Sadygov offered his presentation right there. The seminar consecrated to Azerbaijan financial and market systems issues and banking.

Inga Zenkova:

It is so heartening and encouraging for attaining new scientific heights to visit Azerbaijan State University of Economics, to shake Avaz Alekperov`s hand (he is the ex-minister of Azerbaijan, now being Head of the Department of Finance and Financial Institutions, Professor of Economics), to talk to him about economic problems sitting at the same table. While talking we considered the universities collaboration, experience exchange and the necessity of such trainings.

Inga Zenkova at Azerbaijan State University of Economics

Surely, there was some time left for the cultural program. We were struck by the beauty and the blend of the old and modern architecture of Baku.

The excursion in Baku

We tremendously thankful to Vivadi Safarov, the hospitable and gifted member of Qala Hayat. He showed us the heart and the soul of Baku. It is impossible to find out about the country economic policy and to collaborate effectively without understanding its social and cultural aspect.

We visited numerous sights as Old City, historical museum, Gobustan National Park and many other places.

The exhibit in the museum

The Old City dips in the archaic nature of the narrow streets and buildings, tells us different legends which are rooted to the history of Baku. Visiting Maiden Tower and getting to know the legend about the girl who, by her nature and perversity, refused political marriage and locked herself in the high tone tower, reminded the story of Euphrosyne of Polotsk.

Having visited Gobustan National Park situating in the mountains, we reminded our ancestors who lived there thousand years ago. That place is included in UNESCO World Heritage set thereby proving its importance.

There are the rock carvings displaying prehistoric life. And after the excavations made, various tools were found so this fact admits ancient populations lived there.

Now we move to Azerbaijan cuisine, one more magic page. The different types of pilaf garnished with aromatic saffron and varieties of meat, amazing shashlik being unimaginably prepared and served, fish dishes with seasoning, tasty desserts, fabulous sorts of jam, the table groaning under a huge spread of fruits and vegetables and other marvelous food – all these show the diversity and uniqueness of its cuisine.

Summing up, we may say the professional training and the meeting with the company directors determined the cooperation directions and perspectives. That is confirmed by preparing a draft of the agreement between PSU and Qala Hayat. The agreement will allow undergraduate and postgraduate students and academicians to have an intership. It will also provide the opportunity to set webinars concerning insurance market development, economic policy, financial markets and management in Belarus, Azerbaijan and other countries. Furthermore, it will help while organizing scientific seminars, international forums, theses reviewing.

We wish our collaboration the favorable wind. And the reason is quite symbolic because Baku is derived from the Persian name of the city "Bād-kube" meaning "Wind-pounded city".

The representatives from Baku and PSU

The representatives from Baku and PSU at Azerbaijan State University of Economics