Depositors of 10 closed banks have received compensation of 698 million 890 thousand manat, the Deposit Insurance Fund said.
The depositors of OJSC Para Bank were issued AZN 42 million 810 thousand, OJSC Zamin Bank – AZN 52 million 256 thousand, OJSC Credo Bank – AZN 27 million 005 thousand, OJSC Deka Bank – AZN 3 million 021 thousand, OJSC Atra Bank - AZN 14 million 193 thousand, OJSC Qafqaz Inkisaf Bank – AZN 1 million 880 thousand, OJSC Bank of Azerbaijan – AZN 24 million 147 thousand, OJSC Ganja Bank – AZN 975 thousand, OJSC Tekhnika Bank – AZN 120 million 080 thousand, and OJSC Bank Standard - AZN 412 million 517 thousand as compensation. -----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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