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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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Insurance incident

       
To the attention of the depositors of OJSC «Royal Bank» where an insurance event had taken place!

The Azerbaijan Deposit Insurance Fund is bringing to the attention of the public that on July 16th, 2012 OJSC «Royal Bank» which had joined to the Fund since August 07th, 2007 had experienced an insurance event.



In accordance with the decision of the Board of Custodians of the Fund dd July 18th, 2012 OJSC
“Muğanbank”, OJSC “Bank Respublika” and OJSC “AGBank” had been selected to act as an Agent Bank for the purpose of payment of compensatory pay-offs to the protected depositors of OJSC «Royal Bank».



As of August 01, 2012 the Deposit Insurance Fund via selected agent banks shall start payment of compensatory pay-offs to the protected depositors of OJSC «Royal Bank» where an insurance event had taken place.



The Fund shall additionally provide the information on the addresses and contact phones of the branch offices of agent banks, which shall take part in the process of payment of compensatory pay-offs.



The Fund shall pay compensatory pay-offs in the capacity of 100 per cent of the protected deposit in each member bank, but not more than 30 thousand manats.




       

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