Investors of the ten closed banks have received in compensation 680 million 760 thousand manat, said the Deposit Insurance Fund.
According to Turan, a little over half of that amount accounted for the depositors of Bank Standard - 394 million 613 thousand manat. Note that offset deposits in this bank are 460 million manat.
The depositors of OJSC Para Bank were issued 42 million 756 thousand, JSC Zamin Bank - 52 million 242 thousand, JSC Credo Bank - 26 million 925 thousand, JSC Deka Bank - 3 million 016 thousand, OJSC Atra Bank - 14 million 179 thousand, JSC Qafqaz Inkisaf Bank - 1 million 880 thousand, JSC Bank of Azerbaijan - 24 million 117 thousand, JSC Ganja Bank – 969,000, JSC Tekhnika Bank - 120 million AZN as compensation. -----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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