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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On 21 December, Russian Transport Minister Roman Starovoit met with Azerbaijani Minister of Digital Development and Transport Rashad Nabiyev at the Russian Ministry of Transport.
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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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