Former Azerbaijani SSR Savings Bank’s depositors paid nearly $707 million

In 2012, 554.712 million manat in the form of a one-off individual payment was paid to the depositors of the Azerbaijani branch of the Savings Bank of the former Soviet Union by its legal successor Kapital Bank, Finance Minister Samir Sharifov said on Friday in his speech at the session of the Milli Mejlis (Parliament), which discussed the state budget for 2012.

According to him, payments were made with regards to 1.448 million accounts.

"Over the past five months this work has continued," Sharifov said.

According to the minister, the most effective and working option for this process in the post-Soviet area has been adopted by Azerbaijan. Issuance of lump sum payments began with on June 1 and is being carried out at144 points of the bank, 78 of which are located in the country's regions.

Ninety-one points are located in branch offices and departments of Kapital Bank, the rest being specially created for this purpose. The bank's website has a special e-map showing the location of the points.

The process for obtaining funds by the citizens will end on December 31, 2013. In this case, the issuance of individual lump sum payments to depositors of the Azerbaijani branch of the Savings Bank of the USSR will cover 2.4 million Azerbaijani citizens, who are the holders of personal deposit accounts. According to the Ministry of Finance, nearly 800 million manat will be required to make these payments.


/Trend/