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Azerbaijan Deposit Insurance Fund

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

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.

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.


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An insurance event happened in OJSC “Dekabank”, OJSC “Kredobank”, OJSC “Parabank” and OJSC “Zaminbank”
25.07.2016. The Financial Market Supervisory Body of the Azerbaijan Republic revoked the licenses of the OJSC “Dekabank”, OJSC “Kredobank”, OJSC “Parabank” and OJSC “Zaminbank” at Resolution # 16 dated July 21, 2016. Citing to the letter # 01/10-1549, dated July 25, submitted to the Azerbaijan Deposit Insurance Fund by the Financial Market Supervisory Body of the Azerbaijan Republic the insurance events occurred in OJSC “Dekabank”, OJSC “Kredobank”, OJSC “Parabank” and OJSC “Zaminbank”. Hereby in accordance to the Article # 2.1.9 of the Law “on deposit insurance” July 25, 2016 is the day of occurrence of the insurance event in these banks. With regard to the Article 28.1 of the Law “on deposit insurance” the Fund will pay compensatory pay offs to the insured depositors of the OJSC “Dekabank”, OJSC “Kredobank”, OJSC “Parabank” and OJSC “Zaminbank” starting from August 1, 2016.
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ANNOUNCEMENT: OJSC “Dekabank”, OJSC “Kredobank”, OJSC “Parabank” and OJSC “Zaminbank” withdrawn from ADIF’s member bank registry and the certificates were cancelled
22.07.2016 The Financial Market Supervisory Body of the Azerbaijan Republic revoked the licenses of the OJSC “Dekabank”, OJSC “Kredobank”, OJSC “Parabank” and OJSC “Zaminbank” at Resolution # 16 dated July 21, 2016. Regarding to the Article # 22.3.1 of the Law “on deposit insurance” of the Azerbaijan Republic OJSC “Dekabank”, OJSC “Kredobank”, OJSC “Parabank” and OJSC “Zaminbank” withdrawn from the ADIF’s member bank registry and ADIF’s certificates were cancelled.
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TO THE ATTENTION OF THE DEPOSITORS!!!
Baku 01.03.2016 According to a decision passed in the extra-ordinary meeting of ADIF Board of Custodians held in March 01, 2016 agreeing with the Central Bank of Azerbaijan, the upper limit of annual interest rate on insured deposits in foreign currency made 3%, on insured deposits in the national currency – 12%. According the third article of the Law “on deposit insurance”, all insured deposits with the interest rate provided by the ADIF Board of Custodians will fully be insured for three years regardless of amount.
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To the attention of the protected depositors of OJSC “Texnikabank” where an insurance event happened!
12.02.2016. Azerbaijan Deposit Insurance Fund would like to inform the public that an insurance event happened in OJSC “Texnikabank” (which is Fund’s member since July 30, 2007) in February 4, 2016. Regarding to the Resolution dated February 11, 2016 of the Fund’s Board of Custodians 4 Agent banks - OJSC “Muğanbank”, OJSC “Rabitə Bank”, OJSC “Unibank” və OJSC “Kapital Bank” have been selected for the payment of compensations. The branch offices of the selected Agent Banks will accept the application forms from the depositors from February 12, 2016. The depositors may get the application forms from the Fund’s premises (40 Bul-Bul avenue, Baku city), branch offices of the OJSC “Texnikabank”, branch offices of the Agent Banks and from www.adif.az from February 12, 2016. The protected depositors may submit the application forms for getting compensation in accordance to the following table.
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