Azerbaijan Deposit Insurance Fund pays compensations to depositors of closed banks'
BAKU, Azerbaijan, Sept. 2
By Zeyni Jafarov - Trend:
The Azerbaijan Deposit Insurance Fund (ADIF) paid compensation worth 499.8 million manats ($294 million) to 21,200 depositors of the Ata Bank, Amrah Bank, AGBank, and NBC Bank, Trend reports citing ADIF.
The ADIF said that 8,700 depositors of Ata Bank received compensation in the amount of 197 million manats ($115.8 million), 5,400 depositors of Amrah Bank – 128.3 million manats ($75.4 million), 3,500 depositors of AGBank – 66.1 million manats ($38.8 million), and 3,600 depositors of NBC Bank – 106.3 million manats ($62.5 million).
Payments of compensation to depositors of Atabank and Amrah Bank have been made since June 1, 2020, and are paid in a non-cash manner through debit cards of Kapital Bank OJSC, as well as through the ‘Xəzri’ fast money transfer system.
Payments of compensation to depositors of AGBank and NBC Bank began on June 16, 2020, and are paid in a non-cash manner through debit cards of the International Bank of Azerbaijan OJSC in 20 branches, noted the ADIF.
The Central Bank of Azerbaijan (CBA) terminated the licenses of these banks.
(1 USD = 1.7 AZN on Sept. 2)
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