Baku, December 26, AZERTAC
In Azerbaijan, all protected deposits, regardless of the amount, are fully insured until April 5, 2021.
According to AZERTAC, this is reflected in the amendments to the Azerbaijani Law “On Full Insurance of Deposits”, approved by the President of Azerbaijan, Ilham Aliyev.
By virtue of the amendments, all protected deposits, whose interest rates are within the annual interest rate determined by the Board of Trustees of the Deposit Insurance Fund in accordance with article 8.1.20 of the Deposit Insurance Law Regardless of their amount, they are fully insured until April 5, 2021 by the banks participating in the Fund, with a special agreement (license) for banking activities.
It should be remembered that the Law “On the complete insurance of deposits” entered into force on January 19, 2016 and provided the complete insurance of all protected deposits for 4 years and 9 months from that date.
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AZERTAG.AZ :All protected deposits regardless of the amount are fully insured until April 5, 2021
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