Baku, Azerbaijan, Feb. 9
By Anvar Mammadov - Trend:
The Azerbaijan Deposit Insurance Fund has paid the compensations worth over 17.3 million manat to clients of the failed Bank of Azerbaijan, the fund said.
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 manat. The payments are made in the branches of Muganbank and Rabitabank, assigned as agent banks.
At the same time, more than 268,000 manat have been paid to Ganja Bank's clients since February 4, which is about 18 percent of a total volume of insured deposits of the bank. In general, the amount of insured deposits in Ganjja Bank is 1.5 million manat.
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 manat for each insured deposit.