Banking confusion in Azerbaijan, and how it relates to coronavirus
Baku residents have been complaining about long lines in front of some banks for several days in a row. Banks are issuing cards that will list compensation for people who have lost their jobs due to the epidemic of coronavirus and quarantine. However, most banks are operating only until two in the afternoon. And several banks have completely closed.
One Bakuvian describes what is happening:
“It’s been so long I can’t receive a money transfer. I stood in line for 40 minutes yesterday, and it turned out that they had no currency. And today it turned out that banks operating until 14:00, stop accepting applications from 13:00. But the shops around are open until the evening. Around the banks are crowds of people. Some of them are either police, or the guards, and they raise their voices, they are rude and speak with you informally.”
Compensation for the loss of work is 190 manat [about $112] per month and is intended for 600,000 people. Although, according to experts, the true number of those who remained without earnings due to quarantine and need help is much greater. Compensation will be given for two months. In April, it was transferred to people by mail, and in May the money will be sent to special bank cards, for which everyone is now waiting on line to receive.
As for the closure of banks, they did not name specific reasons, but, according to economists, they had problems with lending. According to official reports, banks have “had their licenses revoked.”
According to official figures, on the evening of April 29, the total number of infected with COVID-19 in Azerbaijan reached 1,766 people, 23 of whom died and 1,267 recovered.
Since April 27, the quarantine regime has been relaxed in the country. Most stores have opened.