Reducing the limit on insured deposits in foreign currency to 3% refers to deposits invested in banks of Azerbaijan since March 2, 2016.
At a press conference the head of the Azerbaijan Deposit Insurance Fund (ADIF) Azad Javadov said, commenting on the decision of the Supervisory Board, the limit will not be affected on the deposits of the population, acting before that date.
Recall, on March 1 ADIF Board of Trustees kept the upper limit of interest rates on insured deposits in manats at the level of 12%, and the annual interest rate in foreign currency decreased to 3%.
Thus, the aim of attracting insured deposits in the national currency is to be achieved. --17D-
Economics
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Azerbaijani President Ilham Aliyev has signed amendments to two presidential decrees, refining the roles and appointments of the State Customs Committee's representatives abroad, including in international organizations.
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Auditing organizations and independent auditors in Azerbaijan concluded 7,232 contracts valued at 133.2 million manats ($78.4 million) in 2023, reflecting increases of 20% in the number of contracts and 7.1% in their total value compared to the previous year, according to the Chamber of Auditors.
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The third meeting of the auction commission was held to evaluate the proposals submitted by participants in the auction for the Gobustan Solar Power Plant project, supported by the European Bank for Reconstruction and Development (EBRD). The meeting focused primarily on determining qualification eligibility and selecting the auction winner, according to the State Agency for Renewable Energy Sources.
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There is no sensationalism in the recent renaming of the Azerbaijani ship Karabakh to Mingachevir; the new name was given to the ship to ensure that two vessels would not operate under the same name, the Merchant Fleet of Azerbaijan Caspian Shipping Company (ASCO) CJSC told Turan.
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