The liquidator for the failed banks Qafqaz Inkishaf Banki and Atra Bank has been appointed. As reported by Turan with reference to the Fund, on August 16, Baku Administrative-Economic Court declared the bankruptcy of the above banks.
According to the court, the Deposit Insurance Fund was appointed the liquidator.
Qafqaz Inkishaf Banki functioned on the basis of the license obtained from the Central Bank of Azerbaijan on 7 April 1997.
The bank's shareholders are natural persons owning 100% of the shares.
Atra Bank JSC, established in December 1992, initially functioned as a joint stock commercial bank ATRA. Its activity as JSC Atra Bank continued from August 29, 2005.
The licenses of Qafqaz Inkişaf Banki and Atra Bank were withdrawn on 27 January 2016 in connection with the failure of the banks to meet the minimum capital requirements and obligations to the creditors. -71D--
Economics
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A briefing was held on National Press Day to discuss the implementation of the presidential decree on allocating financial resources for expanding Azerbaijan's broadcasting network.
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From 2015 to the first half of 2024, Azerbaijan's industrial zones produced goods worth 13.5 billion manats ($7.9 billion), with 4.4 billion manats ($2.6 billion) exported, according to the Ministry of Economy. In the first half of this year, sales in these zones reached 1.4 billion manats, with 477 million manats exported. Products from these zones were shipped to over 70 countries worldwide.
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"Aztelekom" and "Baku Telephone Communications" have announced that there will be changes in internet prices starting from August 15. The statement mentions that under the new tariffs, the minimum speed for subscribers will start at 100 Mbit/s. The payment per Mbit/s will be reduced from 0.45 AZN to 0.25 AZN. For instance, 100 Mbit/s internet will be offered for 25 AZN, 150 Mbit/s for 30 AZN, and 250 Mbit/s for 36 AZN.
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