Deposit Insurance Fund has announced the completion of the commitments of creditors' claims for three private banks, Credo Bank, Para Bank and Deka Bank.
Referring to the Fund, according to the law the liquidator takes calls from creditors to close the bank within 60 calendar days after the publication of the corresponding announcement.
Note that this declaration does not apply to insured deposits. According to the Fund as of November 21, depositors of OJSC Para Bank were issued AZN 42 million 852 thousand, JSC Credo Bank – AZN 27 million 005 thousand, and JSC Deka Bank – AZN 3 million 021 thousand as compensation. ---71D
Economics
-
Hundreds of trucks are stuck in the Kazakh port of Kuryk, facing delays for several days while waiting for ferry transport to Azerbaijan, the Azakhstan portal reports lada.kz. The backlog is due to a combination of reduced ferry availability, adverse weather conditions, and an influx of cargo rerouted because of expanded sanctions on Russia.
-
Members of the Association of Independent Industrialists and Businessmen (MÜSIAD) have invested 61.3 million manats in Azerbaijan's economy over the past three years, Rashad Jabirli, chairman of "MÜSIAD Azerbaijan," revealed during a media briefing.
-
While the global economy faces persistent challenges, trade between China and Azerbaijan has defied downward trends, demonstrating significant growth. According to official statistics from Azerbaijan, bilateral trade in 2023 reached 3.1 billion US dollars. In just the first ten months of 2024, trade volume increased by 17.1% year-on-year, reaching 3.02 billion US dollars, putting the annual trade figure on track to hit a record high.
-
The German-Azerbaijani Chamber of Commerce (AHK Azerbaijan) hosted its biannual Members' General Meeting in Baku on December 18, 2024, gathering over 80 business representatives to reflect on the chamber’s milestones and chart a path forward.
Leave a review