Azerbaijan, Baku, Oct. 29 / Trend A. Akhundov /
The process of giving lump sum individual payments to depositors of the Azerbaijani branch of the Savings Bank of the former Soviet Union is ahead of schedule, Azerbaijani Finance Minister Samir Sharifov told media today.
"The process is being implemented more rapidly than we expected," he said. "This testifies to the fact that the work has been organised well. Of course, employees performing this work authorised Kapital Bank employees who may have some shortcomings in this process.
However, we cannot talk about numerous cases. These shortcomings are minimal in nature."
He said that this process is being implemented well.
Azerbaijani President Ilham Aliyev has signed a decree on granting individual lump sum payments to the depositors of the former USSR Saving Bank, who are Azerbaijani citizens on March 14.
Kapital Bank is an authorised bank involved in the issue of lump sum payments. The process of obtaining funds began on June 1 and will complete on December 31, 2013.
Some 300 million manat has been allocated from the reserve fund of the state budget-2012 for the organisation and payment of lump sum payments to depositors and attracting additional labour on the basis of fixed term contracts by Kapital Bank, to pay the costs of their accommodation and to address logistical and software issues.
Some 349.109 million manat was paid as lump sum payments to depositors of the Azerbaijani branch of Saving Bank of the USSR as of September 30, 2012.
Around 500 million manat will be allocated to cover the payments to the depositors of the former Savings Bank.
Official exchange rate on October 29 is 0.7850 AZN/USD.
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