Baku, Azerbaijan, Feb. 9
By Azad Hasanli - Trend:
The Azerbaijan Deposit Insurance Fund has paid the compensations worth over 18.1 million manats to clients of the failed Bank of Azerbaijan, the fund said Feb. 9.
As of Feb. 9, the official exchange rate is 1.5787 AZN/USD.
The process of receiving applications from Bank of Azerbaijan's insured depositors started since January 29, 2016.
The amount of the insured deposits in Bank of Azerbaijan is 24.2 million manats. The payments are made in the branches of Muganbank and Rabitabank, assigned as agent banks.
At the same time, more than 317,000 manats have been paid to Ganja Bank's clients since Feb. 4. In general, the amount of insured deposits in Ganjja Bank is 1.5 million manats.
The payments to Ganja Bank's depositors are made in the branches of Rabita Bank, Unibank and Kapital Bank.
The fund returns up to 30,000 manats for each insured deposit.