More than $630 million to be allocated for payments to depositors of Savings Bank of Azerbaijan SSR in 2013
Azerbaijan, Baku, Oct 16 /Trend A.Akhundov/
An additional $500 million manat will be allocated to issue lump sum payments to depositors of the Azerbaijani branch of Saving Bank of the USSR in 2013.
It is stated in the draft law on the State Budget for 2013, published in the official press on Tuesday.
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 on 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 organization and payment of lump sum payments to depositors, attract of additional labor on the basis of fixed-term contracts by Kapital Bank, to pay the costs of their accommodation, 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.
About one billion manat will be required to cover the payments to the depositors of the former Savings Bank.
Official exchange rate on October 16 is 0.7852 AZN/USD