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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Azerbaijan President Ilham Aliyev has signed a decree to strengthen social protection for pensioners by implementing pension indexation, effective from January 1, 2025.
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The Italian government has extended the deadline for applications in the international tender for the sale of several strategic assets until February 14, confirming that a bidder from Azerbaijan remains among the frontrunners.
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An investigation led by Ghalib Toghrul, Chairman of the Board of the Center for Economic Research, has highlighted budgetary expenditures in the Azerbaijani districts of Aghdam, Fuzuli, and Khojavend, focusing on civil service projects linked to the reconstruction of territories liberated from Armenian occupation.
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On February 4, Azerbaijani Economy Minister Mikayil Jabbarov met with a delegation of the International Monetary Fund (IMF) led by Anna Bordeaux, head of the IMF mission in Azerbaijan, to discuss economic cooperation, financial sector issues and structural reforms, the ministry said.
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