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Depositors of bankrupt banks receive over 141M manats in Azerbaijan

Business Materials 28 April 2016 20:20 (UTC +04:00)
The Azerbaijan Deposit Insurance Fund (ADIF) has paid the compensations worth 23.9 million Azerbaijani manats to clients of the bankrupt Bank of Azerbaijan.
Depositors of bankrupt banks receive over 141M manats in Azerbaijan

Baku, Azerbaijan, Apr. 28

By Azad Hasanli - Trend:

The Azerbaijan Deposit Insurance Fund (ADIF) has paid the compensations worth 23.9 million Azerbaijani manats to clients of the bankrupt Bank of Azerbaijan, a statement posted on ADIF's website said Apr. 28.

The official exchange rate is 1.5056 AZN/USD as of April 28.

The applications have been received from Bank of Azerbaijan's insured depositors 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 871,000 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 116.5 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.

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