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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Azerbaijan’s economic growth is expected to continue in the coming years, although forecasts from ING Group and the United Nations (UN) present slightly differing views on the pace of recovery. ING Group, the largest banking institution in the Netherlands, predicts modest growth in Azerbaijan’s gross domestic product (GDP), while the UN offers a more optimistic outlook.
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The average age of taxi cars in Azerbaijan has dropped from 15 to 7 years, according to a statement from the Azerbaijan Ground Transport Agency (AYNA), which attributes this change to the implementation of reforms.
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Kazakhstan has bolstered its position in international grain markets by resuming exports to Iran and Azerbaijan, according to the country’s Ministry of Agriculture.
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In recent years, Azerbaijan has quietly fostered a vibrant startup ecosystem that is beginning to make waves on the international stage. From digital education platforms to innovations in agrotechnology, these startups reflect the country's growing embrace of technology and entrepreneurship. A combination of government support, international collaboration, and bold entrepreneurial vision has propelled several Azerbaijani ventures into the global spotlight.
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