Oct 31, 2012

Azerbaijan Deposit Insurance Fund began the process of payment of compensatory pay-offs to the protected depositors of “Royal Bank” JOSC since August 1, 2012. The elected Agent Banks have already paid compensation to 550 depositors. “AGBank” JOSC, “MuganBank” JOSC and “Bank Respublika” JOSC have already served 128, 181, and 111 depositors respectively.

In general, total of 6,727,186 AZN compensation have been paid to depositors. 5,166,668 of this payments were paid in AZN, 1,536,908 were paid in USD (equivalent to AZN), and 23,610 were paid in EURO (equivalent to AZN). It should be noted that the exchange rate of USD and EURO is to date when insurance event had taken place which is 0.7855 q. for USD and 0.9616 q. for EURO.

248 depositors of applied depositors were considered as depositors with some problems in documentation and part of these depositors were served after the investigation and solution of their problems. 

If all documents, needed for payment of compensatory pay-offs, had been admitted in a correct form, the depositors were compensated promptly.