The Deposit Insurance Fund has compensated depositors of 10 closed banks 590 million 131 thousand manat, the Fund stated.
Depositors of OJSC Para Bank have been issued 32 million 883 thousand, JSC Zamin Bank - 51 million 022 thousand, JSC Credo Bank - 23 million 075 thousand, and JSC Deka Bank - 2 million 858 thousand manat.
Depositors of OJSC Atra Bank have received 14 million 110 thousand, JSC Qafqaz Inkishaf Banki - 1 million 876 thousand, JSC Bank of Azerbaijan - 24 million 091 thousand, JSC Ganja Bank - 969 thousand, JSC Tekhnika Bank - 119 million 978 thousand, JSC Bank Standard - 319 million 269 thousand AZN as compensation. --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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