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Azerbaijan announces funds returned to depositors of local Gunay and Mugan Banks

GenevaTimes by GenevaTimes
June 5, 2025
in Europe
Reading Time: 2 mins read
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Azerbaijan announces funds returned to depositors of local Gunay and Mugan Banks
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Economy
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5 June 2025 20:21 (UTC +04:00)

Azerbaijan announces funds returned to depositors of local Gunay and Mugan Banks


Efforts continue to develop a risk-based system for calculating bank insurance premiums in Azerbaijan. In 2023, depositors of bankrupt Gunay and Mugan Banks recovered nearly all their insured deposits. By the end of 2024, over $20 million and $117 million were paid to their depositors.

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