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
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Azerbaijan began the new year with significant hikes in gas, electricity, water, and medication tariffs, sparking widespread concern among citizens over the financial burden on households. While officials defend the measures as necessary for economic sustainability, critics warn of challenges tied to stagnant wages and pensions.
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As of January 1, Europe has ceased contract-based transit of Russian gas through Ukraine. Kyiv announced it would not renew agreements to traffic gas from the "aggressor nation" through its territory. The decision marks a pivotal moment in Europe’s efforts to reduce reliance on Russian energy, a dependency that supplied nearly 50% of the continent’s gas imports before the war in Ukraine.
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Azerbaijan's Tariff Council has approved a decision to regulate the maximum wholesale and retail prices of registered medicines, with the new pricing caps coming into effect on January 2, 2025.
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Azerbaijan's Tariff Council has approved tariffs for connecting construction sites to water supply and wastewater systems for the first time, addressing a previously unregulated sector with inconsistent charges, the council announced on January 2.
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