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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Hundreds of trucks are stuck in the Kazakh port of Kuryk, facing delays for several days while waiting for ferry transport to Azerbaijan, the Azakhstan portal reports lada.kz. The backlog is due to a combination of reduced ferry availability, adverse weather conditions, and an influx of cargo rerouted because of expanded sanctions on Russia.
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Members of the Association of Independent Industrialists and Businessmen (MÜSIAD) have invested 61.3 million manats in Azerbaijan's economy over the past three years, Rashad Jabirli, chairman of "MÜSIAD Azerbaijan," revealed during a media briefing.
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While the global economy faces persistent challenges, trade between China and Azerbaijan has defied downward trends, demonstrating significant growth. According to official statistics from Azerbaijan, bilateral trade in 2023 reached 3.1 billion US dollars. In just the first ten months of 2024, trade volume increased by 17.1% year-on-year, reaching 3.02 billion US dollars, putting the annual trade figure on track to hit a record high.
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The German-Azerbaijani Chamber of Commerce (AHK Azerbaijan) hosted its biannual Members' General Meeting in Baku on December 18, 2024, gathering over 80 business representatives to reflect on the chamber’s milestones and chart a path forward.
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