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Baku hosts international seminar on insurance of deposits

29 November 2010 10:56 (UTC +04:00)

Baku. Vahab Rzayev â€“ APA-Economics. Today, a two-day seminar on the role of guarantee systems of deposits in stabilization of financial systems has started with organizing of Meeting of the International Association of Deposit Insurersâ€™ (IADI) Eurasia Regional Committee. One of the main topics of seminar is the activities of Deposit Insurance Funds of Azerbaijan, Russia, Kazakhstan and Ukraine during the crisis and in the period after crisis.

Director of Guarantee Fund of individualsâ€™ deposit of Ukraine Vasiliy Pasechnik informed about te activity of fund and current situation at Ukrainian deposit market.

According to Alexey Abramov, Director of the Department for Organizing of Deposit Insurance (ÐÐ¡Ð’), the Agency in Russia was only as insurer and annihilator, but the Agency extended its power in accordance to legislation during the crisis. As the result, the agency can sell the assets and liabilities of troubled banks to other banks. This process is being carried out before the bankâ€™s licence is recalled. Itâ€™s possible to sell its assets on in this case.

Besides, Vice. Chair of the Kazakhstan Deposit Insurance Fund Saule Shenol spoke about Fund and deposit market of the country.

At the same time, The Executive Director of ADIF Azad Javadov made a speech about the macro economy and financial indexations of Azerbaijan and informed about the activity of the fund.