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manats will be carried out according to the official rate of 4 October 2016, that is, the day when the bank's license was revoked.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
-
Azerbaijan’s Milli Majlis ratified the second amendment to the agreement on the joint development of the Azeri-Chirag-Gunashli (ACG) oil and gas block during its plenary session on Wednesday. The bill was submitted to parliament as a legislative initiative by President Ilham Aliyev.
-
The 104th meeting of the Commonwealth of Independent States (CIS) Economic Council was held in the Russian capital, with representatives from member states discussing enhanced economic collaboration and key regional initiatives. Azerbaijan was represented by First Deputy Prime Minister Yagub Eyyubov.
-
Azerbaijan’s Information and Communication Technologies Agency (IKTA) reported significant improvements in the quality of internet and telecommunications services in the first half of 2024, driven by a comprehensive assessment framework and enhanced regulatory measures.
-
In 2024, Azerbaijan will double its gas supply to Bulgaria, which not only uses this gas for its own needs but also partially sends it to its Balkan Gas Hub and, by agreement with SOCAR, organizes the transit of various volumes to its neighbors.
Leave a review