The Deposit Insurance Fund appealed to individuals and legal entities, which have debts to Bank Standard, which is in the process of liquidation.
It is reminded that by the October 4, 2016 decision of the Baku Administrative Economic Court Bank Standard was declared bankrupt and the Deposit Insurance Fund was appointed the liquidator.
DIF recalled that only actions of the liquidator shall be legally binding.
Natural and legal persons who have loans before Bank Standard are obliged to pay their loans because the bank's bankruptcy does not relieve them of their obligations. The Fund warned that in relation to persons who do not timely pay their loans measures will be taken, envisaged by the law. -71D-
Economics
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On July 26, the Ministry of Economy hosted a meeting with entrepreneurs from the non-oil industry to explore ways to stimulate local production and enhance export potential.
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Azerbaijani internet service providers Aztelekom and Baktelekom will introduce substantial changes to their pricing structure starting August 15, the companies announced today. Under the new tariffs, the minimum internet speed will rise to 100 Mbit/s, with the cost per Mbit/s decreasing from 0.45 AZN to 0.25 AZN. As a result, monthly charges will be set at 25 AZN for 100 Mbit/s, 30 AZN for 150 Mbit/s, and 36 AZN for 250 Mbit/s.
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Independent experts suggest that Azerbaijan may be on the verge of another devaluation of its currency, the manat, due to a shrinking trade and payment surplus. The anticipated economic adjustments come amidst a decline in foreign currency inflows and reduced oil production.
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Azerbaijan’s Foreign Minister Jeyhun Bayramov met today with Ahmed Moallim Figi, the Minister of Foreign Affairs and International Cooperation of Somalia, at the Azerbaijani Foreign Ministry. This meeting followed a discussion held the previous day between Figi and Azerbaijan’s Economy Minister Mikail Jabbarov.
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