Depositors of Nine Closed Banks Paid 261,402,000 AZN as Compensation
The Deposit Insurance Fund has paid AZN 261,402,000 in compensation to the depositors of nine closed banks, the Fund said.
The depositors of OJSC Para Bank were paid AZN 32,570,000, the depositors of OJSC Zamin Bank were paid AZN 49,004,000, Credo Bank – AZN 17,181,000, Deka Bank – AZN 2,772,000, Atra Bank - AZN 13,282,000, Gafgaz Inkishaf Banki – AZN 1,699,000, Bank of Azerbaijan - AZN 24,091,000, Ganja Bank - AZN 925,721, and Tekhnika Bank – AZN 119,878,000. ----71D
Economics
-
Azerbaijan's financial standing continues to strengthen as the country's foreign currency reserves have surged to $71 billion as of January 1, 2025, according to the Ministry of Finance. This figure, which includes reserves held by the State Oil Fund of Azerbaijan (SOFAZ) and the Central Bank of Azerbaijan (CBA), far exceeds the nation's external debt, which stands at a fraction of its reserves, specifically nearly 14 times less. This robust reserve position reflects Azerbaijan's fiscal stability and the government’s strategic economic management.
-
According to operational data from the Ministry of Energy of Azerbaijan, in January 2025, the country produced 2.3 million tons of oil, including condensate, and 3.9 billion cubic meters of gas.
-
The State Oil Company of Azerbaijan (SOCAR) has opened a representative office in Albania and is set to launch a specific project this year, the Albanian company "Albgaz" announced.
-
"Azerbaijan is currently among 54 middle-income countries," said Shahmar Movsumov, head of the Economic Affairs and Innovative Development Policy Department of the Presidential Administration, during the presentation of the World Bank’s World Development Report 2024 in Baku on February 10.
Leave a review