Upper limit of interest rates on insured bank deposits declines in Azerbaijan

Upper limit of interest rates on insured bank deposits declines in Azerbaijan
# 27 May 2010 11:05 (UTC +04:00)
Note that, according to result of 2010, total deposits of individual persons in ADIF’s member banks made AZN 2 385.385 mln, including of non-protected deposits was AZN 707 mln, protected deposits was AZN 1 678 mln. Insurance reserves of ADIF were AZN 25.698 mln. The number of protected depositors is 5 197 888 persons or 98% of total depositors. The new level of upper limit will be concerned to new deposits.

The AZN 10 mln of fund’s reserves is state valuable papers, others are placed in Central Bank of Azerbaijan in Euro and Dollar.
The representatives of Russia’s Deposit Insurance Agency attended the press conference.According to DIA Deputy General Director, Andrei Melnikov, there is not upper limit of interest rates on insured deposits in Russia and Azerbaijan’s experience in this sphere is very interesting for them.
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THE OPERATION IS BEING PERFORMED