Deposit Insurance Fund paid to depositors of the closed bank "Standard" a compensation in the amount of 80,399,000 manats, according to the Deposit Insurance Fund. According to Turan, the Fund paid compensation to depositors of 19 private banks - «Parabank», «Zaminbank», «Kredobank», «Dekabank», «Atrabank», «Qafqaz İnkişaf Bankı», «Bank of Azerbaijan», «Gəncəbank», «Texnikabank», «Bank Standard» issued 345.755.000 AZN compensation.
On October 17 will begin delivery of compensation for all insured deposits, regardless of their volume.
Population's deposits in the bank "Standard" total 603.000.000 AZN, of which offset is 460 million AZN. Deposits in US dollars amount to 175 million, and in AZN - 172 million.
Payments are issued in the currency in which the deposits were made. In case, the deposits had been made in multiple currencies (in manats, US dollars or in other currencies - Ed.), they will be paid back in manats, and the conversion of foreign currency into manats will be carried out according to the official rate of 4 October 2016, that is, the day when the "Standard" bank's license was revoked.
Contributors can apply for compensation till October 2017 . --71D--
Economics
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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.
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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.
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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.
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