Finance

Finance

President Ilham Aliyev signs order on returning of lump-sum payment to Azerbaijani depositors of USSR Deposit Bank

14 March 2012 15:57 (UTC +04:00)

According to order:

1. Lump-sum payments must be returned to the persons who saved the deposits in the legal heir of USSR Deposit Bank Kapital Bank OJSC as at January 1, 1992.

2. â€œRules on returning of private lump-sum payment to the depositors who are Azerbaijani citizens of former USSR Deposit Bankâ€™s Azerbaijan Republic Bankâ€œ must be approved.

3. To determine that:
3.1. Returning of lump-sum payments to the depositors started from June, 2012 and completed by December 31, 2013.

3.2. Kapital Bank OJSC, which is the legal heir of the Bank of the Republic of Azerbaijan of former Soviet Unionâ€™s savings bank, is considered authorized bank on lump-sum payments.

4. To charge the Cabinet of Ministers of Azerbaijan Republic to do within 15 days:
4.1. consideration of controversial issues during giving of lump-sum payments and provide the establishment of Special Commission (from now on â€“ Special Commission) to operate until the completion of those payments by the participation of representatives of the relevant state bodies under the Finance Ministry of the Republic of Azerbaijan;

4.2. Confirm the field of activity of the Special Commission;

4.3. solve the issues on allocation of appropriate funds from the state budget for giving of lump-sum payments and organization of the process of giving the lump-sum payments.

5. To charge the Finance Ministry of the Republic of Azerbaijan:

5.1. Financing of lumpâ€”sum payments fro state budget will be realized based on orders of Kapital Bank OJSC and as well judgement of Special Commission.

5.2. Ho0t line will be established in Ministry of Finance to take measures on appeals of depositors during returning of lump-sum payments.

5.3. Information about returning of lump=sum payments will be released via mass media.