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April 28 Considered Day of Insured Event in Four Closed Banks - Deposit Insurance Fund
Baku / 06.07.20 / Turan: One of the depositors of the closed NBC bank complained about the incorrect calculation of interest on deposits when compensating insured deposits.
Azad Mahmudov, who contacted Turan in his complaint, indicated that interest on deposits was calculated before April 18, while he said that it should be calculated from the day the judgment comes into force, which dates back to June 14.
“The difference is 2 months. Many customers complain about this,” he wrote in his complaint.
The press service of the Deposit Insurance Fund, which was appointed a liquidator for the closed banks, said they were guided by a letter from the Central Bank.
“The Central Bank has determined the insured event for all four banks since April 28. On this day, the Central Bank sent a letter to the Deposit Insurance Fund. On April 28, the Central Bank revoked the Atabank and Amrahbank licenses, and on May 12, those of NBC and AGBank. We cannot determine the day of the insured event ourselves. The Central Bank decides this as a financial regulator,” the Fund’s press service said. –71D-
Finance
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In December 2024, the State Customs Committee (SCC) transferred 646.45 million manat to the state budget, the SCC’s website. According to the data, this is a 4.4% increase compared to the same period in 2023. In particular, last year, customs duty revenues increased by 20.2% to 158.2 million manat, while VAT (Value Added Tax) revenues decreased by 0.45% to 463.5 million manat. Excise tax revenues increased by 6.2% to 19.55 million manat, and road tax revenues increased by 45.9%, amounting to 5.2 million manat.
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An auction for the placement of interest-bearing, unsecured, undocumented, registered bonds of the non-bank credit organization (NBCO) Embafinans with the code AZ2013020600 ISIN, worth 2 million manat for a one-year term, was held at the Baku Stock Exchange (BSE), the BSE reported.
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Zarifa Hamzaeva, the owner of 84.5% of Premiumbank's shares, has passed away, the Bank reported. She was also the wife of Jahangir Askerov, the founder and president of Gazelly Group, the leading cosmetics manufacturer in the country, and the former head of Azerbaijan Airlines (AZAL) (dismissed in September 2023).
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In 2024, nominal income of Azerbaijan's population totalled AZN 83,093.4 million.
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