Azerbaijan Deposit Insurance Fund has started selection of the bank-agent to pay compensations to the depositors of Royal Bank.
The Fund reported that all deposits up to 30,000 AZN will be fully compensated. 98% deposits in Royal Bank were guaranteed by the state, the Fund reported.
The Fund has been operating since August 2007. Its members are 43 of 45 banks operating in the country. Minimum size of insurance compensation per deposit is 30,000 AZN. Since June 1, 2010 the Fund does not insure the deposits and the interest rates do not exceed 12% per annum.—0—
Economics
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Azerbaijani President Ilham Aliyev signed a decree on Monday aimed at improving social welfare, increasing the country’s minimum monthly wage to 400 manats ($235) starting January 1, 2025.
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Turkish companies YDA and ASFAT plan to build a shipyard near Kazakhstan's port of Kuryk to address the country's domestic fleet shortage, Kazakhstan's Minister of Transport Marat Karabaev announced on Monday during a parliamentary session. The project underscores Kazakhstan's ambitions to strengthen its maritime capabilities and logistics infrastructure.
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Kazakhstan's Minister of Transport, Marat Karabayev, unveiled the country’s bold roadmap for transforming itself into a premier transport and logistics hub in Eurasia. Speaking in parliament on Monday, Karabayev detailed strategies to capture a share of the massive $1 trillion annual freight flows between the East-West and North-South corridors.
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The ASCO-owned ferry "Shahdag," freshly refurbished, has resumed operations on the Azerbaijan-Kazakhstan route, aiming to alleviate severe truck congestion at ports on both sides of the Caspian Sea.
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