The Deposit Insurance Fund compensated the depositors of Bank Standard 261 million 259 thousand manat, according to the Fund.
The overall compensation to depositors of the 10 closed banks was 527 million 259 thousand manat.
The Fund started granting compensation to depositors of Bank Standard from 11 October. The population's deposits in the bank are 603 million manat, of which 460 million AZN is to be compensated.
Deposits in US dollars amount to 175 million and in AZN - 172 million.
Deposits are returned in the currency, in which they have been made. If one customer has deposits in different currencies, the payment shall be issued in manat, at the rate of 4 October, on the day of the cancellation of Bank Standard’s license. ----71D
Economics
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The Central Bank of Azerbaijan (CBA) has approved the "Green Taxonomy," according to a decision by its Board of Directors on November 13.
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Azerbaijan's state oil and gas company, SOCAR, has signed a joint development agreement with Bulgaria’s "Asarel Energy," part of the Asarel Medet holding group. The agreement was signed on November 13 during the COP29 summit in the presence of the Presidents of Azerbaijan and Bulgaria, Ilham Aliyev and Rumen Radev.
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Saudi Electricity CEO Khalid Al-Hamidi and Baba Rzayev, Chairman of Azerbaijan's state-owned energy company Azerenergy, signed a memorandum of understanding (MoU) on Wednesday during the COP29 summit in Baku. The agreement, inked after a high-level meeting between Azerbaijan's Minister of Energy and his Saudi counterpart in the event’s Blue Zone, aims to enhance cooperation on integrating renewable energy into Azerbaijan’s power grid.
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The CEO of ICGB, the operator of the Greece-Bulgaria Interconnector (IGB), Theodor Georgieva, underscored the critical role of Azerbaijan and other gas suppliers to the European Union in the event of a potential cessation of Russian gas deliveries through Ukraine, speaking to journalists on the sidelines of COP29 in Baku.
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