Azerbaijan pays 1.5B manats to depositors of closed banks

To date, the Azerbaijan Deposit Insurance Fund (ADIF) has paid compensation for 664 million manats ($390.588 million) to depositors of AGBank OJSC, Amrah Bank, AtaBank and NBC Bank, whose licenses were canceled in April-May 2020, Agshin Jahangirov, deputy executive director of the Fund, said in an interview with Report.

“In total, 1.5 billion manats ($882.352 million) was paid to depositors of closed banks, 54,000 depositors received compensation. The Fund fulfilled 99% of its commitments. Some 1% remained unpaid on deposits whose owners are abroad or did not contact us for other good reasons,” added Jahangirov.