As of October 1, 2013, individuals had bank savings equivalent to 5.831 billion manat. Of these, 1.97 bn or 34% accounted for by non-guaranteed deposits. The rest of the savings attributable to 4,899,000 investors (93% of the total) are insured.
According to the report of the Azerbaijan Deposit Insurance Fund, for the third quarter of this year, the deposits of individuals in banks grew by 3.8 % , including the insured - by 2.6 %.
In the structure of insured deposits 59% were insured deposits in manats, 37 % - in U.S. dollars and 4% respectively in euros.
The total amount of insurance fund reserves reached 64.7 million manat, and assets grew to 66.9 million manat.
The Fund has operated since August 2007. Its members include 42 of the 43 banks operating in the country. The maximum amount of insurance compensation for a contribution is 30,000 manat. Since 1 August 2013 the Fund has not insured deposits at interest rates higher than 10%. -15D-
Economics
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The Central Bank of Azerbaijan (CBA) has approved the "Green Taxonomy," according to a decision by its Board of Directors on November 13.
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Azerbaijan's state oil and gas company, SOCAR, has signed a joint development agreement with Bulgaria’s "Asarel Energy," part of the Asarel Medet holding group. The agreement was signed on November 13 during the COP29 summit in the presence of the Presidents of Azerbaijan and Bulgaria, Ilham Aliyev and Rumen Radev.
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Saudi Electricity CEO Khalid Al-Hamidi and Baba Rzayev, Chairman of Azerbaijan's state-owned energy company Azerenergy, signed a memorandum of understanding (MoU) on Wednesday during the COP29 summit in Baku. The agreement, inked after a high-level meeting between Azerbaijan's Minister of Energy and his Saudi counterpart in the event’s Blue Zone, aims to enhance cooperation on integrating renewable energy into Azerbaijan’s power grid.
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The CEO of ICGB, the operator of the Greece-Bulgaria Interconnector (IGB), Theodor Georgieva, underscored the critical role of Azerbaijan and other gas suppliers to the European Union in the event of a potential cessation of Russian gas deliveries through Ukraine, speaking to journalists on the sidelines of COP29 in Baku.
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