Azerbaijan To Give Back Depositors Over Centum Million Of Bust Muganbank

2023-11-29 01:09:48

(MENAFN- Trend News Agency) BAKU, Azerbaijan, November 29. Over the last two days, compensation of more than 100.9 million manat ($59.3 million) have been paid to 2,983 protected depositors of Azerbaijan's Muganbank OJSC, which is in liquidation, Azerbaijan Deposit Insurance Fund told Trend .

Citing the fund, this amounted to around half of the bank's expected compensation amount.

"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," the fund said.

The Deposit Insurance Fund's website has detailed information on the compensation payment process.

The fund makes compensation payments through the International Bank of Azerbaijan (IBA) and Kapital Bank.

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