Queues for lump-sum pay of ‘Soviet contributions’ show real demand for money in Azerbaijan
Baku, Fineko/abc.az. Azerbaijan observes changes in the dynamics of the return of Soviet deposits to the population launched since 1 June 2012 in full accord with the Rules of Lump-Sum Payment to Azerbaijani Citizens (depositors of the USSR Savings Bank in Azerbaijan Republic and their successors), established by President Ilham Aliyev.
On the second day of full-time of "lump sum" payment the quality of the process has changed. People still continue standing in queue starting from 6 am in front of Kapital Bank’s branches, but there are less people in these lines. However, the composition of the queue has changed. The most mobile Azerbaijani citizens of retirement age have been changed basically by even old women (classical housewives). Most likely, the composition of the queue has nothing with the course of lump-sum payment, but simply reflects the real demand for money from the population. Pensioners and housewives are those people who now, perhaps, experience money deficiency. The government can somehow resolve situation with the first matter by raising pensions, but the problem of housewives can hardly become solvable - they in any way come in contact with the cash flow of the state, and taking into account the absence of demographic crisis in the country they can hardly expect state’s adequate compensation for them for birth and raising of new citizens for it. As a result, their only chance to “get a good money" - to receive some compensation from the government.
The process of the lump-sum payment is expected to cover 2.4 million people.
For convenience of citizens the Ministry of Finance opened the hotline operating from 9 am to 6 pm on phone number (012) 404-46-03. The appeals can also be sent to emanet_info@firstname.lastname@example.org e-mail.
It has been allocated 300 million for payment on Soviet contributions and full expenditures for these ends are estimated at about AZN 1 billion.
The payment process should be made from June 2012 to 31 December 2013 by OJSC Kapital Bank, which is legal successor of Saving Bank of Azerbaijan.
The Special Commission deals with all payment issues.
The rules of payment assume that the payments are allowed given deposit recalculation into national currency after 15 August 1992 (1 Azerbaijani manat- 10 Soviet roubles) and denomination of national currency from 1 January 2006 (1 new Azerbaijani manat (AZN) -5.000 manats), and deposit book of the Saving Bank is a confirming document. Lawful heirs of the deceased will get compensations on their deposits for this period.
Payments will be carried out on the following scheme:
Deposits for the sum of up to 2,000 roubles (AZN 0.04) are returned at the rate of AZN 75;
2,000-5,000 roubles - (AZN 0.04- AZN 0.1) - AZN 300 +AZN 50 for each excess qapik (AZN 0.01) over AZN 0.04 sum;
more than 10,000 roubles- (AZN 0.2) - AZN 1,000+AZN 25 for each excess AZN 0.01 over AZN 0.2 sum.
Payments are carried out on the basis of depositors or their heirs appeal to the authorized bank which should be confirmed by deposit book, identification card of Azerbaijani citizen or notarially certified copy of death certificate, notarially certified copy of will or other document for succession right. The appeals are considered by the Special Commission. Payments are paid in cash or other form of bank payment. After the payment is completed the deposit account is closed. No appeals on payments are received after 31 December 2013.
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