As of October 26, the Deposit Insurance Fund compensated depositors of ten closed banks 623,736,000 manat, the Fund said in a statement.
The depositors of OJSC Para Bank were issued 34 million 582 thousand, JSC Zamin Bank - 51 million 026 thousand, JSC Credo Bank - 26 million 136 thousand, JSC Deka Bank - 2 million 858 thousand, JSC Atra Bank - 14 million 140 thousand, JSC Qafqaz Inkishaf Bank - 1 million 876 thousand, JSC Bank of Azerbaijan - 24 million 117 thousand, JSC Ganja Bank - 969 thousand, JSC Tekhnika Bank - 119 million 978 thousand, and JSC Bank Standard - 348 million 048 thousand manat as compensation. ----71D
Economics
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Natural gas prices in Europe surged to their highest level since October 2023 on Friday, reflecting expectations of increased demand due to an impending cold spell in the region.
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U.S. President Donald Trump’s proposed energy and trade policies could lead to a prolonged decline in global oil and gas prices, potentially triggering economic instability in Azerbaijan from 2026 onward, unless significant structural reforms are implemented, economist Gubad Ibadoglu warned in a recent analysis.
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Azerbaijan has taken a step toward diversifying its agricultural sector by launching the country’s first commercial banana production, with local producer Fruitland introducing tropical fruits to the domestic market.
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Azerbaijan, Georgia, Turkey, and Bulgaria have agreed on the draft text of a memorandum of understanding in the field of green energy transmission, marking a significant step in the development of sustainable energy ties in the region. The document aims to expand energy exchange between the countries and establish a legal framework for the Green Energy Corridor project.
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