Bank Of Baku

ADIF may increase maximum interest rate on deposit insurance

ADIF may increase maximum interest rate on deposit insurance
# 29 November 2010 11:19 (UTC +04:00)
According to him, maximum interest rate is applied in only two countries, over the world. One of them is Azerbaijan: “This is caused by not risking the banks high interest rates. Review of banks will depend on current situation at the market.”

He also noted that, 80% of member-banks’ deposit was attracted with the annual interest rate below 12%: “Fund, , always investigates the markets. If the decrease tendency of interest rate on borrowed deposit continues at the market, it’s possible not to review this issue. Otherwise, the fund may review the interest rate.”

Remind that, ADIF has been in operation since 2007.
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THE OPERATION IS BEING PERFORMED