The depositors of 10 closed banks have been compensated 725 million 525 thousand manat by the Deposit Insurance Fund. The specification is as follows: Para Bank – AZN 43 million 175 thousand (98.4% of the total amount of compensation), Zamin Bank – AZN 54 million 356 thousand (75%), Credo Bank – AZN 27 million 771 thousand (99 9%), Deka Bank – AZN 3 million 086 thousand (98.7%), Atra Bank – AZN 14 million 280 thousand (98.1%), Qafqaz Inkisaf Bank – AZN 1 million 974 thousand (94.4%), Bank of Azerbaijan – AZN 24 million 161 thousand (97%), Ganja Bank – AZN 976,440 (94%), Tekhnika Bank – AZN 120 million 433 thousand (98.2%), and Bank Standard - 435 million 313 thousand (99%). ----71D
Economics
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Azerbaijan’s ADY Express, a subsidiary of Azerbaijan Railways CJSC, signed several strategic agreements on the sidelines of the Logitrans Türkiye 2024 exhibition in Istanbul, Turkey, reinforcing its commitment to expanding freight transport services along the Middle Corridor.
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Azerbaijan plans to establish state-of-the-art battery storage facilities for green energy with a total capacity of 350 MW within the next 4-5 years, a well-informed source in the Ministry of Energy told Turan.
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Shareholders of the Caspian gas condensate "Absheron" project plan to approve the Front End Engineering Design (FEED) in December, laying the groundwork for full-scale development of the field, an informed source told Turan.
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In 2024, Europe will receive approximately 12.5 billion cubic meters of gas from Azerbaijan, with the list of buyers expanding to 12 countries. Speaking at an energy forum in Istanbul on Friday, SOCAR President Rovshan Najaf announced that cooperation with a 12th, new gas buyer would begin in December.
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