![Delivery of Compensation to Depositors of Bank Standard Starts](https://turan.az/resized/./turan-750-500-resize.webp)
Delivery of Compensation to Depositors of Bank Standard Starts
From October 11 starts delivery of compensation to depositors of Bank Standard, said the Financial Markets Supervision House. Taking into account the large number of depositors, as well as the availability of socially sensitive categories of the population, the Deposit Insurance Fund in the first stage will start issuing compensation of deposits of up to USD 20,000.
Payments will be issued in the currency in which the deposits were made. Deposits in multiple currencies (in manats, US dollars or in other currencies - Ed.) will come back in manats, and the conversion of foreign currency into manats will be carried out according to the official rate of 4 October 2016, that is, the day when the bank's license was revoked.
The process of issuing deposit payments on a large scale will begin in the coming days and it will be reported separately. Issue of compensation will be implemented in 14 branches of Bank Standard in Baku and in the regions, including the main office of the bank.
Investors may apply for compensation within one year.
The population's deposits in Bank Standard are AZN 603 million, of which offset is AZN 460 million. Deposits in US dollars amount to USD 175 million and deposits in AZN are AZN 172 million. ------71D
Economics
-
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.
-
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.
-
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.
-
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.
Leave a review