BAKU, Azerbaijan, November 28. Compensations amounting to more than 65 million manat ($38.2 million) were paid to 1,849 protected depositors of Azerbaijan's Muganbank over the past 24 hours, Azerbaijan Deposit Insurance Fund told Trend.
This is about 32 percent of the estimated compensation amount for the bank. Compensation issuance is now successfully continuing.
"Once again we remind depositors that the provision of compensation payments will be carried out in accordance with the requirements of the legislation, and there is no reason to worry about it. According to Article 28.5 of the Law of the Republic of Azerbaijan "On Deposit Insurance", the compensation payment is made not later than 30 calendar days from the date of acceptance of depositors' applications," the Fund said.
Detailed information on the process of compensation payment is available on the website of the Deposit Insurance Fund.
Compensation payments are made through International Bank of Azerbaijan (ABB) and Kapital Bank.
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