Of the 460 million manat of insured deposits in Bank Standard AZN 425 million has been disbursed by now, the head of the Board of Directors of the Financial Markets Supervision House (FMSH) Rufat Aslanli said.
Speaking at the Banking Forum in Baku, Aslanli said the remaining amount will be issued in the coming days. He noted that through the Deposit Insurance Fund 23,000 depositors of 10 closed banks were paid 710 million manat. “It remains to pay AZN 45 million to 130,000 depositors. To fulfill these commitments the Fund has enough liquidity.”
Aslanli stressed that currently they are looking for ways to increase capital of the Deposit Insurance Fund.
“The processes of restructuring will be the signal for the banking sector and the public that we capitalize the deposit insurance system and the system has the financial stability to meet their obligations. After that the state should withdraw from these processes,” he said. -----71D
Economics
-
The Azerbaijani government has proposed that the OPEC Fund participate in financing several renewable energy projects, including offshore wind energy development, green energy corridor initiatives, and a 1 GW project planned by SOCAR in partnership with the UAE-based company Masdar.
-
At the COP29 event titled "Climate Finance Landscape in the South Caucasus and Central Asia" held on November 14, Roland Price, Regional Director of the World Bank for the South Caucasus, highlighted the substantial economic and environmental damage faced by the countries of the South Caucasus, which she estimated at around $100 million annually.
-
SOCAR Green, a subsidiary of the State Oil Company of Azerbaijan (SOCAR), has signed a series of agreements at the COP29 summit aimed at bolstering the development of renewable energy sources, enhancing energy efficiency, and promoting sustainable growth in Azerbaijan.
-
The Islamic Development Bank (IsDB) is stepping up its efforts to mobilize Islamic banking resources in the fight against climate change, President of the IDB Muhammad Sulaiman Al Jasser said on Thursday during a roundtable at COP29.
Leave a review