Bank Of Baku

Azerbaijan to quadruple insured deposit ceiling

Azerbaijan to quadruple insured deposit ceiling
# 30 April 2009 13:07 (UTC +04:00)
Baku. Rashad Suleymanov – APA-Economics. Azerbaijan will amend the Law on Deposit Insurance, said Ziyaz Samadzade, Chairman of a parliamentary commission for economic policy.

According to him, it is proposed to increase from AZN 8 000 now to AZN 30 000.

In his words, Azerbaijan will be the first among the CIS states to offer insurance for such high amount.

The existing law on Deport Insurance came effective in February 2007.
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