TODAY.AZ / Business

Azerbaijan may offer securities to compensate for Soviet-era bank savings

13 November 2009 [16:58] - TODAY.AZ
The Soviet-era bank savings of population may be returned in the form of securities, said Rufat Aslanli, Chairman of the State Committee on Securities.
The bank savings became dormant after the Soviet Union collapsed in early 1990s.

"If the Government decides so, we are ready to issue securities for the return of savings. They could mainly be long-term debt securities,” he added.

According to preliminary estimates, the total amount of inactive savings remaining from the Soviet era is over AZN 600 million (about $800 million).

/APA/
URL: http://www.today.az/news/business/57464.html

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