Depositors of 3 bankrupted banks receive 34M manats in Azerbaijan
Baku, Azerbaijan, Feb. 19
The Azerbaijan Deposit Insurance Fund (ADIF) has paid the compensations worth over 21 million manats to clients of the bankrupt Bank of Azerbaijan, a statement posted on ADIF's website said.
As of Feb. 19, the official exchange rate is 1.5635 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 621,000 manats have been paid to Ganja Bank's clients since Feb. 4. In general, the amount of insured deposits in Ganja Bank is 1.5 million manats.
The payments to Ganja Bank's depositors are made in the branches of Rabitabank, Unibank and Kapital Bank.
ADIF has also started paying compensations to Texnikabank's depositors since February 12. More than 12.6 million manats have been paid to the bank's clients recently.
The payments to Texnikabank's depositors are made in the branches of Muganbank, Rabitabank, Unibank and Kapital Bank.
The fund returns up to 30,000 manats for each insured deposit.