The Deposit Insurance Fund has paid depositors of 10 closed banks compensation totaling 406 million 839 thousand manat, the Fund said.
Depositors of OJSC Para Bank were issued 32 million 820 thousand AZN, JSC Zamin Bank - 50 million 974 thousand AZN, JSC Credo Bank - 17 million 979 thousand AZN, and JSC Deka Bank - 2 million 850 thousand manat of compensation.
Depositors of OJSC Atra Bank received 13 million 902 thousand AZN, JSC Qafqaz Inkishaf Banki - 1 million 846 thousand AZN, JSC Bank of Azerbaijan - 24 million 091 thousand AZN, JSC Ganja Bank - 969 thousand AZN, JSC Tekhnika Bank - 119 million 977 thousand AZN, JSC Bank Standard - 141 million 430 thousand AZN. ----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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