Deposit Insurance Fund paid to depositors of 10 closed banks compensation totaling 667 million 072 thousand manat, the Fund said in a statement.
More than half of this amount was issued to depositors of Bank Standard - 381 million 525 thousand manats...
The depositors of OJSC Para Bank were issued AZN 42 million 745 thousand, JSC Zamin Bank – AZN 52 million 208 thousand, JSC Credo Bank – AZN 26 million 688 thousand, JSC Deka Bank – AZN 2 million 906 thousand, JSC Atra Bank – AZN 14 million 176 thousand, JSC Qafqaz Inkisaf Bank – AZN 1 million 880 thousand, JSC Bank of Azerbaijan – AZN 24 million 117 thousand, JSC Ganja Bank – AZN 969 thousand, and JSC Tekhnika Bank – AZN 120 million. ----71D
Economics
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On July 26, the Ministry of Economy hosted a meeting with entrepreneurs from the non-oil industry to explore ways to stimulate local production and enhance export potential.
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Azerbaijani internet service providers Aztelekom and Baktelekom will introduce substantial changes to their pricing structure starting August 15, the companies announced today. Under the new tariffs, the minimum internet speed will rise to 100 Mbit/s, with the cost per Mbit/s decreasing from 0.45 AZN to 0.25 AZN. As a result, monthly charges will be set at 25 AZN for 100 Mbit/s, 30 AZN for 150 Mbit/s, and 36 AZN for 250 Mbit/s.
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Independent experts suggest that Azerbaijan may be on the verge of another devaluation of its currency, the manat, due to a shrinking trade and payment surplus. The anticipated economic adjustments come amidst a decline in foreign currency inflows and reduced oil production.
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Azerbaijan’s Foreign Minister Jeyhun Bayramov met today with Ahmed Moallim Figi, the Minister of Foreign Affairs and International Cooperation of Somalia, at the Azerbaijani Foreign Ministry. This meeting followed a discussion held the previous day between Figi and Azerbaijan’s Economy Minister Mikail Jabbarov.
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