The Azerbaijan Deposit Insurance Fund has given compensation to Bank Standard’s depositors, totaling 341 million 712 thousand manat, the Fund said.
Generally the depositors of ten closed banks have been compensated 612 million 644 thousand manat.
The Fund started granting compensation to depositors of Bank Standard from 11 October. The population's deposits in this bank were 603 million manat, of which AZN 460 million is to be compensated.
Deposits in US dollars amount to 175 million, and deposits in AZN are 172 million.
Payments on deposits in foreign currency are issued in AZN at the exchange rate of October 4, the date of revocation of Bank Standard’s license. ------71D
Economics
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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.
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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.
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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.
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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.
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