Former Savings Bank Paid Compensation of 339 Million Manat
Azerbaijan's Capital Bank has issued compensation for 339 million AZN to 501,000 depositors on deposits of the former USSR Savings Bank, the chairman of the special committee of the Ministry of Finance Razim Valiyev said.
Over the past three months due to lost savings the commission received 2,479 complaints, of which 2,328 were approved, and the rest were returned to the respective branches of the bank for further investigation, said Veliyev.
The process of issuing one-time compensation started June 1 and will end on December 31, 2013. - 15D -
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