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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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Insured deposit

       

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 12 % in the national currency will be fully insured for 3 ( three) years.

In which amounts shall the interests be paid on deposits?

Interests on deposits shall be paid in the amount accrued by the date of the insurance event, provided that the compensation does not exceed the amount that mentioned above.

In which currencies shall compensation be paid in case of an insurance incident?

 

In case of an insurance incident the compensation shall be paid:

- in manats for the deposits in national currency;

compensation shall be paid as one deposit account in manats for deposits both in national  and foreign currencies

- 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 National Bank.



       

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