Baku / 12.09.17 / Turan: Azerbaijan"s Deposit Insurance Fund has paid compensation of 747.888 million manat to depositors of 11 bankrupt banks. The specification is as follows: Bank Standard - AZN 437 million 689 thousand (99.2% of the total amount of insured deposits, with AZN 3 million 465 thousand remaining unpaid), United Credit Bank - AZN 1 million 837 thousand (87.5%, AZN 262,448 remaining unpaid), Bank of Azerbaijan - AZN 24 million 191 thousand (97%), Gandja Bank - AZN 976,441 (94%), Tekhnika Bank - AZN 120 million 408 thousand (98.2%), Para Bank - AZN 43 million 222 thousand (98.5%), Zamin Bank - AZN 72 million 196 thousand (99.3%), Credo Bank - AZN 27 million 914 thousand (99.6%), Deka Bank - AZN 3 million 88 thousand (98.8%), Atra Bank - AZN 14 million 352 thousand (98.2%), and Gafgaz Inkishaf Bank - AZN 2 million 4 thousand (95.9%). -71D-
Finance
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The Unemployment Insurance Fund (UIF) under the Ministry of Labor and Social Protection of the Population does not provide information about its investment activities, the conclusion of the Chamber of Accounts on the draft budget law for the Fund for 2025. According to the document, the draft budget does not include any indicators related to the Fund's investments or income from such activities.
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As of the end of 2023, investments of the State Social Protection Fund (SSPF) under the Ministry of Labor and Social Protection of the Population amounted to 2,515.3 million manats, the conclusion of the Chamber of Accounts on the draft budget law for the Fund for 2025.
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In Azerbaijan, approximately 6.5 billion manats will be allocated from the state budget for 2025 to implement the "Social and Economic Development Strategy for 2022-2026", the conclusion of the Chamber of Accounts on the draft law "On the State Budget for 2025." According to the document, this amount represents a 17.2% increase compared to the approved forecast for 2024.
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The Central Bank of Azerbaijan has reinstated the license for an insurance agent issued to an individual, Nabiyev Sabukhi Zakirovich, the regulator's official website reported. The announcement states that the decision was made on November 19 in accordance with the Law on Insurance Activity. The reason for the reinstatement is that the insurance broker has addressed the issues that led to the suspension of the license. Currently, there are 426 individuals and 57 legal entities holding insurance agent licenses in Azerbaijan.
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