Investors of the closed 10 banks have received in the form of compensation a total of 706 million 765 thousand manat, the Deposit Insurance Fund said.
The total indemnity included the following indexes, according to banks: Para Bank – AZN 42 million 852 thousand, Zamin Bank – AZN 52 million 267 thousand, Credo Bank - 27 million 005 thousand, Deka Bank - 3 million 021 thousand, Atra Bank – AZN 14 million 217 thousand, Qafqaz Inkisaf Bank – AZN 1 million 926 thousand, Bank of Azerbaijan – AZN 24 million 147 thousand, Ganja Bank – AZN 975 thousand, Tekhnika Bank – AZN 120 million 81 thousand, and Bank Standard – AZN 420 million 272 thousand. -----71D
Economics
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Azerbaijan has introduced new rules to simplify the leasing of agricultural land on liberated territories, aiming to attract investments and enhance agricultural productivity, according to a presidential decree issued on November 27, 2024.
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The Asian Development Bank (ADB) allocated $10.5 million to support the retail sector in Azerbaijan, marking another step in its ongoing support for the country’s economic modernization. These investments align with Azerbaijan's broader ambitions to diversify its economy and strengthen small and medium-sized enterprises (SMEs), which are key pillars of sustainable growth.
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At today’s session of the Milli Majlis, Azerbaijan’s parliamentarians discussed and approved in the first reading a draft law increasing the minimum subsistence level for 2025. The updated figures reflect a modest rise of 10 manats, setting the nationwide living wage at 285 manats. For specific demographics, the levels are 305 manats for the working population, 232 manats for pensioners, and 246 manats for children. The same session also approved the criterion of need at 285 manats for the coming year, aligning it with the national living wage.
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This year, the plans of the Australian holding Fortescue Future Industries (FFI) for developing "green" projects in Azerbaijan have been adjusted, though negotiations initiated two years ago are ongoing, an informed source told Turan.
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