The depositors of Bank Standard received compensation from the Deposit Insurance Fund in the amount of 195 million 423 thousand manat, the Fund said in a statement.
Generally the depositors of ten closed banks have been repaid 460 million 889 thousand manat.
The population's deposits in Bank Standard are 603 million AZN, of which AZN 460 million is compensated.
Deposits are returned in the same currency, in which they were made. If a person has deposits in multiple currencies, the payment is issued in AZN. Foreign currencies are converted at the exchange rate of AZN as of October 4, the day of cancellation of Bank Standard’s license.
Investors may apply for compensation until October 2017. --71D
Economics
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Azerbaijan Railways (AZD) has launched rail transit shipments from Zira Port, located 45 kilometers east of Baku, strengthening the country's position as a logistics hub on the Middle Corridor.
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Azerbaijan’s state-owned electricity producer, Azerenergy, is advancing the construction of six hydroelectric power plants (HPPs) in the Kalbajar and Lachin districts as part of the country’s efforts to expand its renewable energy capacity. The plants, with a combined capacity of 37.5 megawatts (MW), are expected to be commissioned in the first half of 2025, according to the company.
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In Almaty, where glass-and-steel towers of a growing tech-driven economy rise against the snow-capped peaks of the Zailiysky Alatau, Digital Almaty 2025 has set the stage for discussions that extend far beyond Kazakhstan’s borders. The forum, now a cornerstone of Central Asia’s digital transformation agenda, has attracted a constellation of policymakers, tech entrepreneurs, and industry leaders seeking to shape the next wave of artificial intelligence (AI) integration into industrial economies.
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The volume of money transfers from Russia to neighboring countries continued to decline in 2024, according to data from the central banks of Kazakhstan, Georgia, Armenia, and Azerbaijan analyzed by RBC. The figures, which account for transactions through banking infrastructure and money transfer systems such as Zolotaya Korona, Unistream, and Contact, highlight a continued downward trend after a surge in remittances in 2022.
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