17:17 - 28.11.2023

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November 28, Fineko/abc.az. 1,849 protected depositors of Muğanbank OJSC were paid more than 65 million manats of compensation over the past day, ABC.AZ reports with reference to the Azerbaijan Deposit Insurance Fund.

The figure is about 32% of the amount of compensation to be paid by the bank. The issue of compensation is currently being successfully continued. Since November 27, the Fund has started paying compensation for protected deposits in Muğanbank, which is in the process of liquidation. Compensation payments are made through the branch networks of the International Bank of Azerbaijan and Kapital Bank selected as agent banks throughout the country.

The institution once again reminds depositors that provision of compensation payments will be carried out in accordance with the requirements of the legislation, and there are no grounds for concern about this. In accordance with Article 28.5 of the Law on Deposit Insurance, compensation is paid no later than 30 calendar days from the date of acceptance of depositors' applications.