Legislation

Currencies in which compensation is paid in an insurance incident?

In manats for the deposits in national currency.

In USD or EUR according to the currency of the deposit for the deposits in USD and EUR deposits.

For deposits denominated in other foreign currencies compensation shall be paid in USD or EUR based on the official exchange rates defined by the Central Bank.

What is the amount of compensation paid to a depositor?

Starting March 2, 2016 deposits accepted by the Fund’s member banks with the annual interest rate 3 % in the foreign currency and 15 % in the national currency will be fully insured for 3 ( three) years.

What is insured deposit?

It is such a part of deposit that will be compensated by the Fund in the amount defined by Law "On deposit insurance" in case of insurance incident in the participant bank where a depositor is serviced.

Legislation

Law on Deposit Insurance

Decree of the President of the Republic of Azerbaijan on Execution of the Law of the Republic of Azerbaijan "On Deposit Insurance"

Law of the Republic of Azerbaijan on changes and additions in some legal acts in respect of entering into force the Law of the Republic of Azerbaijan “On Deposit Insurance”

Decree of the President of the Republic of Azerbaijan on Execution of the Law of the Republic of Azerbaijan “on changes and additions in some legal acts in respect of entering into force the Law of the Republic of Azerbaijan “On Deposit Insurance”

Currencies in which compensation is paid in an insurance incident?

What is the amount of compensation paid to a depositor?

What is insured deposit?

Legislation

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