The Deposit Insurance Fund (CAF) of Azerbaijan collected in the second quarter of 2012 calendar fees in the amount of 1.871 million manat, $ 1.641 million and 177 thousand euros from 43 of its members.
As reported in the fund, the total amount of its insurance reserves reached 48.3 million manat.
As of July 1, individuals had bank savings equivalent to 4,319 million manat. Of these, 1,650 million or 38.2% accounted for non-guaranteed deposits. The rest of the savings attributable to 6,125 thousand depositors are insured.
The maximum amount of insurance compensation to one contribution is 30,000 manat. Since June 1, 2010, the Fund has not insured deposits with interest rates that exceed 12%. - 15B -
Economics
-
Azerbaijan’s drive to attract investment into its industrial and agricultural zones is gaining momentum, with the government registering 31 new resident companies across economic zones in 2023. The Economic Zones Development Agency (EZDA) also granted non-resident status to one company, marking a new phase in the country’s efforts to stimulate economic growth in post-conflict areas and beyond.
-
The State Oil Company of Azerbaijan (SOCAR) is stepping up its international expansion in upstream operations, marking a strategic shift in its global portfolio. The company’s recent acquisitions— a 10% stake in Israel’s Tamar gas field and a 3% share in the SARB and Umm Lulu offshore oil projects in Abu Dhabi—signal its growing ambitions beyond Azerbaijan’s borders.
-
BP plans to drill 19 wells at the Azeri-Chirag-Guneshli (ACG) oilfield block in 2025, maintaining its drilling activity at the same level as in 2024, a senior company executive said on Tuesday.
-
The International Association of Drilling Contractors (IADC) opened its annual "IADC Drilling Caspian" conference in Baku on Tuesday, bringing together industry leaders to discuss advancements in oil and gas drilling, as well as the growing role of geothermal energy.
Leave a review